Natwest mortgage

Creat123

Has anyone else received a letter regarding an internal review that identified that at the time their mortgage was arranged they were scheduled to be making mortgage repayments past what is considered to be the normal retirement age of 65 and if they suffered any financial loss as a result and what the bank can do about it? We have had two letters. Neither the original bank or NatWest when we re-mortgaged were concerned about my partner being over this age when the mortgage finished. They were only interested that I would be 65 as it finished so the assumption was that I would continue to make the payments on my own. In fact NatWest lent us more money for home improvements. Unfortunately my husband had to take voluntary severance and we used payment received together with retirement savings to pay off the mortgage as we were so concerned that due to ill health he would not be able to obtain new employment. I am slightly at a loss as to how to approach this as they are aware the mortgage is now closed - although there is an acknowledgement that there was never any guidance or advice regarding the issue of being past 65. I had in my mind planned to perhaps re-mortgage to a smaller amount as my husband neared retirement in the effort to make payments myself although I knew this would affect the level of interest I would have to pay - even if I could have obtained such a smaller mortgage amount from a lender. Has anyone received anything like this or can anyone give me some advice as to how to proceed as I am sure there is a cut off point. We have suffered as we had to use retirement funds and savings to pay the mortgage off but how I would quantify any level of compensation involved I haven't a clue. Help!!

[Deleted User]

In order to get any redress from this you'd have to quantify exactly what losses you incurred as a DIRECT RESULT of the mortgage originally being scheduled past the normal retirement age.

Unfortunately, your husband subsequently being made redundant and you then choosing to pay off the mortgage means that there doesn't appear to have been any such material losses.

Plans that you may have had to re-mortgage did not come to fruition and, again, caused you no loss.

The additional loan for home improvements is irrelevant.