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Remortgaging issue - interest only part

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  • Harpderi
    Harpderi Posts: 7 Forumite
    anselld wrote: »
    The bold part is the explanation that was missing from your original posts. It was a fair question.

    See post number #5
  • anselld
    anselld Posts: 8,634 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Harpderi wrote: »
    See post number #5
    I saw it. It did not say your reason for paying the repayment portion first, i.e. to minimise future monthly payments.
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Maybe an idea to over pay your mortgage by the amount you pay into your pension - as if you want to withdraw £50K in one go to clear the mortgage in 11 years time you would have to pay tax on that anyway.
  • I am not sure if the rejection to switch you to a better deal/rate sits well with the regulators.


    I would reject their complaint outcome and send them the £750 cheque back or offer them to count it towards partually settled complaint so happy to accept it for a poor customer service but not anything else.


    I would then take it to the Financial Ombudman as I believe you do have a case here.
  • Harpderi
    Harpderi Posts: 7 Forumite
    I am not sure if the rejection to switch you to a better deal/rate sits well with the regulators.


    I would reject their complaint outcome and send them the £750 cheque back or offer them to count it towards partually settled complaint so happy to accept it for a poor customer service but not anything else.


    I would then take it to the Financial Ombudman as I believe you do have a case here.

    Thanks for this advice. Actually today we received another letter from the Halifax to say they are reopening their investigation into our case. I just came back from my work yesterday (work in Kazakhstan) so not had a chance to speak to them but I will certainly write a reply to them tonight.

    Wife and I are off to Canada for a 3 week holiday tomorrow so will see how things develop whilst I am away. If nothing positive then I will probably make official complaint to Ombudsman.

    I already donated the cheque to a local charity (saving sight in Grampian) and informed the Halifax of this as I did not complain in the hope of getting any compensation.
  • Harpderi
    Harpderi Posts: 7 Forumite
    Just an update on this - came back from our Canadian holiday (by the way, I very much recommend Prince Edward Island - what a lovely place) to find a letter from the Halifax saying they had reviewed documentation and that our new payment schedule (five year fixed rate) would be starting from 1st August. They also said they would honour the lower interest rate for a loan of over £100,000.

    Thanks to the few posters who gave honest advice earlier.
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