Woolwich/ Barclays Reserve Facility

xlt_hunter

Good news.

Spoke to the woolwich this morning and confirm that if I want to keep the reserve then it will keep going up (not fixed as we seem to think) so I have asked for another letter to say just that (just in case)

Call the number on the letter and they are more than happy to send you confirmation that your terms don't change if you select the option to keep the reserver

lianka_2

I have replied option 1 not realising the T&C's changed. Does anyone know if I can still ring them to ensure my T&C's are not changed. I don't intend to use my reserve just yet but you never know what the future will hold.

I have now thrown away my letter so no longer have the phone number. Does anyone still have it?

setmefree2

xlt_hunter wrote: »

Good news.

Spoke to the woolwich this morning and confirm that if I want to keep the reserve then it will keep going up (not fixed as we seem to think) so I have asked for another letter to say just that (just in case)

Call the number on the letter and they are more than happy to send you confirmation that your terms don't change if you select the option to keep the reserver

Thanks for clearing that up

All The Best

SMF2

Surfbabe

I still haven't had a letter !!!!

Bismarck

well. you won't! They know you like yours!

:rolleyes:

Surfbabe

This is true !!!!! but I still feel left out !

Spen08

I haven't had a letter either, but I have used my reserve. Do you think I will get a letter or will they assume I still want it because I use it?
I tried to contact them but gave up after being on hold for 25 minutes.
Thanks.

TotallyBroke

When I took out my mortgage for £68,500. They put £5,000 on the reserve and my mortgage was £63,000. I was told that once the £5,000 was paid off I could use this for any home improvements etc. It's never been paid off and is on interest only at the moment. Does this thread mean, I could get a letter asking me to pay what I owe in one go so that, they can take the facility off me. I'm worried as I don't have that money.
Thanks I'm a bit stupid when it comes to mortgages so really don't have a clue.

setmefree2

Spen08 wrote: »

I haven't had a letter either, but I have used my reserve. Do you think I will get a letter or will they assume I still want it because I use it?
I tried to contact them but gave up after being on hold for 25 minutes.
Thanks.

My letter did say I was getting it because we don't use the reserve. Hope that helps.

SMF2

setmefree2

TotallyBroke wrote: »

When I took out my mortgage for £68,500. They put £5,000 on the reserve and my mortgage was £63,000. I was told that once the £5,000 was paid off I could use this for any home improvements etc. It's never been paid off and is on interest only at the moment. Does this thread mean, I could get a letter asking me to pay what I owe in one go so that, they can take the facility off me. I'm worried as I don't have that money.
Thanks I'm a bit stupid when it comes to mortgages so really don't have a clue.

No noone is asking for money - so don't worry about that.:D