MSE News: Halifax to repay £500m to 300,000 mortgage holders
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Shame it is going back onto the mortgage account, I was looking forward to the windfall.
I took my mortgage out just before the 16 Sept 2007 cut off point and then reverted to the SVR in Sept 2009. My mortgage was for £100,000 (as near as dammit) and I calculated a 1% differnce in payments as £53 a month. I suspect I am inline for £1,007 coming off my outstanding balance of £93,000.
What affect will this also have on future payments. I will now have less money to pay over the remaining term. I presume the monthly payment will adjust slightly to reflect this.Total Value of wins in 2009: £900 appox. 2010: £730Wins 2011: Carlisle Utd Tickets (twice!), Baby Food Hamper, Straighteners, Chugginton Toy0 -
Isn't this only for people who sorted out their mortgages through the Bank of Scotland?0
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Hi
Can anybody tell me does this effect me?? I took a 5 year fixed mortgage april 2006 and on my terms says it will revert to SVR 2% when terms ends april 2011? Does this mean i will be paying 3.5%??
angie:-)1. Does this affect me?
If you took your Halifax mortgage out with us following receipt of an offer between 20th September 2004 and 16th September 2007, you will have received a mortgage offer which had a summary of the cap.
If you remained on the same mortgage conditions on 1st January 2009, you are affected and will be sent a letter during April. The content of that letter will depend on your individual circumstances.Prof planning and public rights of way person. Studies all things tech!0 -
at last some financial justice.... shame its not going in the pocket...Never make assumptions always ask questions>>>>>;)0
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I think you are included based on the official wording below. I miss out as I had my offer in April 2008.
http://www.halifax.co.uk/mortgages/help-and-advice/existing-customers/Halifax-Standard-Variable-Rate-announcement/
I don't think so because of this3. How will you decide who gets a goodwill payment?
Payment will be made to customers that received a Halifax mortgage offer between 20th September 2004 and 16th September 2007, and have been paying SVR at any point since 1st January 2009.0 -
Oops agree Beecher. Will edit.Prof planning and public rights of way person. Studies all things tech!0
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Does anyone know if you have a Halifax tracker taken out in July 2004 that reverted to SVR in July 2006, is this covered and compensation owed?0
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http://uk.finance.yahoo.com/news/Halifax-pay-500m-customers-tele-4193241733.html?x=0
implies they think some people where told that SVR calculation was changing , others not told.Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
Shame it is going back onto the mortgage account, I was looking forward to the windfall.
I took my mortgage out just before the 16 Sept 2007 cut off point and then reverted to the SVR in Sept 2009. My mortgage was for £100,000 (as near as dammit) and I calculated a 1% differnce in payments as £53 a month. I suspect I am inline for £1,007 coming off my outstanding balance of £93,000.
If I'm eligible and if they pay back the 1% difference then I calculate it to be around £375 in total. So hardly a windfall for me :rotfl:but even so - a payment of £375 would reduce my mortgage term by a month. So wouldn't complain! Pretty sure I am eligible but am going to try and forget about it so I don't get my hopes up0
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