Problem obtain redemption statement - deliberate?

machofairy

Would the Woolwich be deliberately not sending me the redemption statement I have requested 3 times (they said that they sent it each time) so that they can keep earning interest off me?

They are also very hard to get hold of, so, shall I just pay off everything but £1 off my flexible openplan mortgage and stop my standing order and let them get in touch with me? For every day I am unable to settle this mortgage, its costing me money in interest.

Thanks in advance.

herbiesjp

Don't stop paying the mortgage because of these issues - it will affect your credit rating and cause problems trying to rectify it.

It might be worth complaining to Royal Mail to see where the post keeps going to.

Can they not fax you a copy? Can they not give you a verbal figure to work on in the meantime?

Scott

You'll probably find that they genuinely HAVE prepared those statements for you, it's just that bad luck has conspired against you (the machine that puts it into envelopes ate it, royal mail lost it). I work in a redemptions department, I see that happening a LOT, when I know for a fact that a statement has been put over to the mail room.

They might be fussy about actually faxing to an unsecured fax number, I know we are supposed to check if the customer is at the machine, etc, first. But they should also give you a figure over the phone.

I would advise against reducing the balance to £1 then ignoring it, since the payments will still be expected, putting nasty marks on your credit rating.

Also, you probably wouldn't send the correct amount as it'd be hard for you to calculate the interest, etc, so you'd end up having a larger amount to pay off afterwards than you anticipated.

Long story short, just ask for the figure over the phone and get them to send the statement registered post. Ask for a manager, they'll send it that way any day rather than deal with a complaint.