Existing Customer Fixed rate Barclays Mortgage deal from August-no reply

krissy08

Hello,

This question relates to a Barclays Mortgage with 7 years left on the term.

On the 3rd of August because the existing deal with expiry 31st October 2022 is on a fixed rate, Barclays encouraged an early application for a new deal via a link to their site. This was applied for and an email conformation received. The reply states;

Dear xxx Your mortgage rate switch application has been received. Your mortgage account number is xxx We're pleased to confirm that your mortgage rate switch application has been submitted successfully. If you need to contact us about this, please use your mortgage account number as a reference.  Next steps We'll send your mortgage rate switch pack by post or email within 10 working days with the details of your new mortgage deal.  Once we receive your signed documents back, your new rate will be applied within 8 working days of our receipt, or upon the expiry of your current mortgage rate whichever is the later.  Please read the contents of your pack carefully. Provided you agree, sign and return the enclosed declaration(s), and any requested documentation, to us promptly You should sign and return the documents to us either via post if you received the application by post or through DocuSign if you received an email and SMS application. Once we receive your documents, we'll complete your mortgage rate switch and send you confirmation If you have any questions, please call us on 0333 202 7578 1 Your new mortgage rate Mortgage product 5 Year Fixed Reward. Initial interest rate 3.07% until 30th November 2027 Follow-on interest rate 4.74% (BEBR +3.49%) variable for the remaining term ^^ Overall cost for comparison 4.0% APRC Product fee £0.00 Loan to Value 60% (max) of the value of your home Early repayment charges 2% of the balance repaid until 30 November 2027 Repayment type Capital Repayment Kind regards Your Barclays Mortgages Team

We never received documents to sign, we never got the pack. Calling the number on this letter repeatedly, we have been told to just wait as they have a backlog and basically that we have no reason to be concerned,
Since August the 3rd there has been a rate rise and so we are very concerned now. I do have all correspondence in writing as some have been via online banking chat. I have specifically asked if this rate will be honoured and I have been told yes 

krissy08

hello can anyone help please

K_S

@krissy08 Apologies, I don't know how the Barclays direct product-switch process works. But if you aren't able to get an answer from anyone at Barclays, I would suggest making a formal complaint saying that you've not received anything since 3rd August, have no idea what's going on with the switch and that it is causing stress.

https://www.barclays.co.uk/complaints/

Make sure it's taken as a formal complaint and they give you a reference for it.

krissy08

That is one thing I haven't tried . Thank you so much.

Artica

krissy08

I have just done 2 early rate switches with Barclays for the last couple of months and once you received that e mail you should have received a letter in the post (or they say docusign but mine were in the post) within 2 weeks to send back to them signed. After (about 10 days later) that I got a text saying that my switch was complete and it appears as pending rate on my mortgage. I hope you get this sorted and that you have not missed out.

krissy08

This very much sounds like what should have happened. I kept calling with no one able to tell me why my letters were not sent out or received by email.

I have logged that complaint , thank you very much