Mortgage / Bank problem..

ddavis

Hi Everyone,

Hoping somebody can help me!

Basically when my mortgage started (Dec 05) they added a 399 fee to the mortgage. So i immediately sent a cheque for 399.

I got my statement at the end of 2006 and saw the money hadn't been credited. So i phoned the mortgage company who asked for a copy of the cheque.

I've been ringing my bank since JANUARY and have finally got somewhere (after numerous complaints). But i received a letter this morning saying 'thanks for requesting a cheque but due to a problem with the film we cant get a clear copy, hope its not an inconvenience'.

So all I have are copies of my bank statement which state CHQ -399 but not who to.

So what i'd like to know is where do I stand? Or am I just 399 out of pocket? I could do with this cash - i've split up with my girlfriend and am currently transferring the mortgage to one name. This could cover the cost of my fees.

My mortgage and my bank account are both with the Abbey if that helps.

Thanks in advance

DD

maninthestreet

Your bank should be able to tell you the bank and account number to which the cheque was creditted.

ddavis

Thanks, i've asked them to send me the information. Probably take them a year again, quality banking institution that they are...

Will that be enough for my mortgage company to sort it out?

jill2002

You say that you sent a cheque for £399 to pay for the fee ? But you asked for it to be added to your mortgage. Why have it added to your mortgage if you intend to pay it?

The minimum capital repayment with Abbey is £500 so if it had been paid onto your mortgage, you may have found that your direct debit payment for the following month was reduced by £399 - check it out. They have probably taken it as part payment for your monthly payment for the following month and not used it to pay the £399 fee.

Jill

homer_j_3

Because it makes sense with most lenders to add the fee and then pay on completion. What it the mortgage doesnt proceed for some reason, you spend a week or more trying to recover your money, if they will give it back.

You also get to accrue interest on that money if its in your account for a longer period of time.

jill2002

Yes, I agree with the reason for it, but with Abbey, as the minimum capital repayment is £500 - you are unable to pay the £399 fee on completion after it has been added to the mortgage - only £500 minimum. This should have been advised at the time of making the mortgage application. So by sending a cheque for £399, Abbey would have taken it as part payment for the following month's direct debit, not as payment of the fee.

homer_j_3

im not sure if all products are the same but yes you are right that this should have been checked prior to advising that. I dont do a lot of business with the abbey due to service and speed of service.

Shytalker

ddavis wrote: »

Hi Everyone,

Hoping somebody can help me!

Basically when my mortgage started (Dec 05) they added a 399 fee to the mortgage. So i immediately sent a cheque for 399.

I got my statement at the end of 2006 and saw the money hadn't been credited. So i phoned the mortgage company who asked for a copy of the cheque.

I've been ringing my bank since JANUARY and have finally got somewhere (after numerous complaints). But i received a letter this morning saying 'thanks for requesting a cheque but due to a problem with the film we cant get a clear copy, hope its not an inconvenience'.

So all I have are copies of my bank statement which state CHQ -399 but not who to.

So what i'd like to know is where do I stand? Or am I just 399 out of pocket? I could do with this cash - i've split up with my girlfriend and am currently transferring the mortgage to one name. This could cover the cost of my fees.

My mortgage and my bank account are both with the Abbey if that helps.

Thanks in advance

DD

Sorry to worry you but some banks have dishonest staff.

I was very badly let down by the Halifax Bank when I sent in a cheque to their Leeds mortgage department, to pay off my mortgage. It was altered by a dishonest employee and paid into a private account.

I was fortunate in a way. I had received demands for missed payments and I asked for confirmation that they had received the cheque. Some kind soul sent me a photocopy of the cheque and I could see that it had been altered by someone, to steal my money.

It has taken some sorting out but I have never received an apology or any gesture to cover phone calls or the very great anxiety that I had suffered for a month or two. Just a statement that it was paid.

I hope that you fare better. Jack Briggs, Yorkshire.

ddavis

Thanks everyone...

It was added to the mortgage by my mortgage 'advisor'. A crooked cretin who made a mistake and didn't want to reapply. I never had any intention of it being added, I had the funds ready to pay it.

So he advised to send a cheque, which i did, via him.

But no, nobody mentioned it had to be at least 500. That might explain a few things.

Spoken to them this morning and they're happy with a fax of a statement so hopefully that will do!

Thanks guys

jill2002

Did you check to see if your first direct debit was £399 short ?