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    • cf247
    • By cf247 9th Mar 18, 1:18 PM
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    cf247
    Natwest - closed mortgage. Can i claim?
    • #1
    • 9th Mar 18, 1:18 PM
    Natwest - closed mortgage. Can i claim? 9th Mar 18 at 1:18 PM
    I have a letter from Natwest about my closed (2012) mortgage, stating that I have been affected by their failings, regarding payments would have gone go past my retirement age (65). Thus affecting whether it was affordable repayment after retirement. I haven't head of this before. Was Natwest onyl one who failed? The have sent me two letters, exactly one month apart. Do I call them / Is there something I can claim back. Has someone else gone down this road? Thanks in advance.
Page 1
    • zx81
    • By zx81 9th Mar 18, 1:21 PM
    • 17,257 Posts
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    zx81
    • #2
    • 9th Mar 18, 1:21 PM
    • #2
    • 9th Mar 18, 1:21 PM
    What do the letters say?

    Have they asked you to call them? Or do they say that they are investigating the issue?
    • dunstonh
    • By dunstonh 9th Mar 18, 1:26 PM
    • 92,999 Posts
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    dunstonh
    • #3
    • 9th Mar 18, 1:26 PM
    • #3
    • 9th Mar 18, 1:26 PM
    I have a letter from Natwest about my closed (2012) mortgage, stating that I have been affected by their failings, regarding payments would have gone go past my retirement age (65). Thus affecting whether it was affordable repayment after retirement. I haven't head of this before. Was Natwest onyl one who failed?
    Natwest haven't failed either. The mortgage clerk that did it probably failed to add the sentence in their advice letter warning that the redemption date would take you past state pension age or didnt have a copy of your pension details on file to show affordability. So, they write out to you now.

    Is there something I can claim back.
    No, you can look for your compensation chasing elsewhere. As the mortgage is closed, this potential issue turned out to be a non-issue as you will not now be borrowing money from Natwest into retirement.

    They do not need to worry about affordability in retirement and you are not worse off because of a failing.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • cf247
    • By cf247 9th Mar 18, 1:41 PM
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    cf247
    • #4
    • 9th Mar 18, 1:41 PM
    • #4
    • 9th Mar 18, 1:41 PM
    the second letter stats 'as we haven't heard from you, we're writing to you again to make sure you are aware of the opportunity to discuss any concerns you had about being able to afford your mortgage after retirement'

    they then say at end of letter to contact them if I believe I may have incurred any additional costs as a result.
    • dunstonh
    • By dunstonh 9th Mar 18, 3:58 PM
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    dunstonh
    • #5
    • 9th Mar 18, 3:58 PM
    • #5
    • 9th Mar 18, 3:58 PM
    They normally write three times. You will get another soon.
    they then say at end of letter to contact them if I believe I may have incurred any additional costs as a result.
    And as you haven't, there is no need to contact them.

    Unless you somehow believe they have made you worse off.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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