Woolwich Mortgage Reserve Account

Bismarck

Well....you do your best....and what happens?

They sent out the letters in March advising if you did nothing they'd reduce your limit.

I sent mine back, stating my preference to keep it with a provision that it will increase over time and I phoned to advise the letter was on its way.

Today they reduced my limit to a silly amount without warning - found out through online banking - not by any letter.

I phoned and complained and they said they'd not received my letter.

I've not received the reminder they said they would send if they didn't any answer regarding the change.

I now need to send written confirmation that I do indeed want to keep my limit....

So, a warning to those with the Woolwich Mortgage Reserve...make sure they don't take your limit on the pretext of not receiving your correspondence.:mad:

UK007BullDog

Send all letters by recorded post.

That is the only way to ensure delivery!

Bismarck

Well...sent my letter...checked online before I went away and they'd changed my limit to higher than it was before...hmmm OK...

Come back from week's holiday....letter received confirming the reserve facility had been reinstated but I then check online and it's been put at £100...like their default status.

Do they have bizarre updating systems or something?

Bismarck

UK007BullDog wrote: »

Send all letters by recorded post.

That is the only way to ensure delivery!

You really shouldn't have to though, should you? I'm wondering how many other letters have been allegedly "not received" as Barclays try and cut down their reserve limit exposures....

minimike2

They are only trying to be responsible lenders.

The FS insustry is damned if it does and damned if it doesnt.

Bismarck

minimike2 wrote: »

They are only trying to be responsible lenders.

The FS insustry is damned if it does and damned if it doesnt.

I used to work in the FS industry and yes...we were damned most of the time! :rolleyes:

I know they "try" to seem responsible lenders but the admin was such a mess....they couldn't explain their systems when I asked...