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Threatening letter about mortgage payments.

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  • Threatening letter about mortgage payments.

    I was astounded last week to get a letter from the Coventry building society about missed payments on my mortgage.
    Two years ago I went into my local branch of the Cov B.S and had a chat about why I was on the privelege rate of 8% (not much of a privelege) when they were offering new customers a 5.29% three year fixed rate. I said I wanted that rate as I felt they were taking the mick just because I was a good customer, who always paid on time. After a long discussion I got the three year fixed deal and they waived the buy in fee (it pays to argue).
    Two years on and after making overpayments every month to reduce the capital I got a letter. You have not paid a mortgage payment for two years and your account is in arrears.
    I was very confused and my wife was starting to worry. I went on the phone and got fobbed off, so I went to the local branch to be told; overpayments come off of the capital and are not classed as a mortgage payment, so after paying £24,000 in two years I was sent this letter. I am still quite confused, is this normal practice or are the Coventry B.S on another planet. I did ask that an apology be sent to my wife for the upset caused, I guess that was too much for them to handle as well, because nothing has arrived to date. Well I have £11,000 outstanding on my mortgage and plan to clear that in the next 12 months and send the Coventry B.S to Coventry.

    Thanks,
    Hod..Liam..
    Borrow money from a pessimist -- they don't expect it back.

  • #2
    Re: Threatening letter about mortgage payments.

    So are they saying you haven't been paying any mortgage payments. at all? And if this is the case why has it taken them 2 years to notice? Is the letter stating any arrears? Are they completely barmy????? I could go on but am sure you've already said it all.

    What is the letter requesting/suggesting you do.

    I suggest a strongly worded letter with copies of proof of payments , total amount paid, and a check of your credit file to see if there's any late markers. Then take it from there.
    Is no longer here

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    • #3
      Re: Threatening letter about mortgage payments.

      completely barking.
      #staysafestayhome

      Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

      Received a Court Claim? Read >>>>> First Steps

      Comment


      • #4
        Re: Threatening letter about mortgage payments.

        I am sure sometimes they have a clause you can only over pay by so much, usually a percentage. Maybe that has something to do with the stupid letter.

        Comment


        • #5
          Re: Threatening letter about mortgage payments.

          Some mortgage companies do have rules about how much you can overpay - However I would be asking for a full statement of capital and interest from when you switched to the scheme and ask them exactly how the payment has been allocated .

          Are there any charges associated with the "arrears" and also have they affected your credit rating.

          Go as high as you can ask for a supervisor - ask for a full explanation and also a copy of their complaints proceedure just for good measure
          "What makes the desert beautiful is that somewhere it hides a well." - Antione de Saint Exupery

          "Always reach for the moon, if you miss you'll end up among the stars"


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          • #6
            Re: Threatening letter about mortgage payments.

            Originally posted by scoobydoo View Post
            Some mortgage companies do have rules about how much you can overpay - However I would be asking for a full statement of capital and interest from when you switched to the scheme and ask them exactly how the payment has been allocated .

            I asked if they were happy that I make overpayments, they said yes.

            Are there any charges associated with the "arrears" and also have they affected your credit rating.

            I have no arrears, my monthly payments should be £128, I pay £1000.

            Go as high as you can ask for a supervisor - ask for a full explanation and also a copy of their complaints proceedure just for good measure
            I sent a letter today asking for an explanation to their letter and asked for an apology for the upset caused. I also said if I don't get this in seven days I will contact the FSO for advice.
            Borrow money from a pessimist -- they don't expect it back.

            Comment


            • #7
              Re: Threatening letter about mortgage payments.

              I realise there are no arrears thats why I put it in inverted commas - but they wrote to you saying you were- and most mortgage companies make charges if you miss payments ( I know you have not - but they say you did)

              So I just thought you ought to double check for the last two years exactly how they have calculated everything.

              As we know they are not infallible and they may have made mistakes in the calculations as well as the letter.

              When I dealt with mortgages we had one customer who checked the mortgage interest calculation to the penny every year . In the old days the interest used to be calculated on the last day of the year so another customer used to put all his MP in an inverstment account - earn interest - go 12m in arrears and then pay a whole years mortgage the day before the interest was calculated. Ah the good old days - when you were not chucked out for being 12 weeks in arrears. Not recommended now as interest in calculated daily!

              Just saying I think you should check everything throughly as they should not have written this in the first place . And yes you deserve an apology.
              "What makes the desert beautiful is that somewhere it hides a well." - Antione de Saint Exupery

              "Always reach for the moon, if you miss you'll end up among the stars"


              Comment


              • #8
                Re: Threatening letter about mortgage payments.

                I would check my credit record, if I were you.

                Comment

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