Nationwide reneging on Mortgage Charter

MattMattMattUK

homesaver234 said:

Do you have any evidence of being told the wrong information??

Yes. As I already said. The phone call.

I think you misunderstand the difference between evidence and and you saying something, if you do not have a recording of the call it is just you making a statement about what you think they said. 

BikingBud

So 2 posts by someone who has recently set up an account, both started on 7 Jul 23, this one @21:18 and the other @21:25 about Barclays.

In both cases the OP does not appear to listen to others' discussion, presents no indication of any particular risks or exposure they may have and how this may be mitigated or worsened by the nascent policy, only a desire to be obtuse, argue with other forum  posters and undermine the charter and specifically the 2 mentioned lenders.

Seems to me that both threads have long overrun their useful life!

MWT

I agree, there is nothing to be gained from extending the thread at this point.

penners324

You've got 2 mortgages?

ACG

We have just had an email through from nationwide which includes the following:

What the Mortgage Charter means for your clients

They can:

1. Switch to a new mortgage deal with us without an affordability check
2. Secure a new rate up to 6 months before their current one ends
3. Extend their mortgage term to lower their payments
4. Ask us for help without affecting their credit rating
5. Stay in their home for at least 12 months even if they're unable to pay their mortgage
6. Coming soon: they'll be able to choose interest-only payments for six months.

[Deleted User]

Lenders who have signed up to this Charter

• Aldermore Bank

• Bank of Ireland UK

• Barclays

• Bath Building Society

• Buckinghamshire Building Society

• The Co-operative Bank, including Platform and Britannia

• Coventry Building Society

• Danske Bank

• Darlington Building Society

• Earl Shilton Building Society

• Ecology Building Society

• Family Building Society

• Furness Building Society

• Glasgow Credit Union

• Hinckley & Rugby Building Society

• HSBC, including First Direct

• Kensington Mortgage Company

• Leeds Building Society

• Leek Building Society

• Lloyds, including Halifax and Scottish Widows

• Loughborough Building Society

• Melton Mowbray Building Society

• Metro Bank

• Monmouthshire Building Society

• Nationwide Building Society

• Natwest, including RBS and Ulster Bank

• Newbury Building Society

• Newcastle Building Society

• Nottingham Building Society

• Principality Building Society

• Progressive Building Society

• Santander

• Scottish Building Society

• Skipton Building Society

• Suffolk Building Society

• Teachers Building Society

• Tipton & Coseley Building Society

• TSB, including Whistletree

• The Vernon Building Society

• United Trust Bank Limited

• Virgin Money, including Clydesdale Bank and Yorkshire Bank

• West Bromwich Building Society

• Yorkshire Building Society

https://www.gov.uk/government/publications/mortgage-charter/mortgage-charter

homesaver234

ACG said:

We have just had an email through from nationwide which includes the following:

Coming soon: they'll be able to choose interest-only payments for six months.

And the website now says "very soon" - for what that's worth.

BikingBud

homesaver234 said:

ACG said:

We have just had an email through from nationwide which includes the following:

Coming soon: they'll be able to choose interest-only payments for six months.

And the website now says "very soon" - for what that's worth.

@homesaver234 - Still complaining then!

It'll be worth what it is but to be clear, what detriment does your current perception of the failure of the providers inflict upon you?

homesaver234

"Lenders including NatWest, Nationwide, Barclays will now allow home loan customers to switch to interest-only payments" said This is Money a week ago
https://www.thisismoney.co.uk/money/mortgageshome/article-12282989/Mortgage-Charter-kicks-offer-struggling-borrowers-lifeline.html

Nationwide's web site still says not: "And very soon, you’ll be able to choose to only pay the interest on your mortgage for 6 months."
https://www.nationwide.co.uk/mortgages/existing-mortgage-members/home-support-hub/

MattMattMattUK

homesaver234 said:

"Lenders including NatWest, Nationwide, Barclays will now allow home loan customers to switch to interest-only payments" said This is Money a week ago
https://www.thisismoney.co.uk/money/mortgageshome/article-12282989/Mortgage-Charter-kicks-offer-struggling-borrowers-lifeline.html

Nationwide's web site still says not: "And very soon, you’ll be able to choose to only pay the interest on your mortgage for 6 months."
https://www.nationwide.co.uk/mortgages/existing-mortgage-members/home-support-hub/

What is your point? The Daily Mail post an article, that is not an official statement from the lenders themselves. The lenders are working their way through how to implement it with the regulator and it will be ready when it is ready. Why do you have such an issue?