WendyB (ficticious) Mortgage Arrears

[enaid]

Re: WendyB (ficticious) Mortgage Arrears

You'll get there wends lol and love If you're Orange and you know it clap your hands! :cool2: PMSL

[borgbaiter]

Re: WendyB (ficticious) Mortgage Arrears

hi

might i suggest you do a SAR on them for everything they have on everything you have with them (mortgage additional advances and other bank accounts). this should give you call logs, letters, memo's etc as well as all the figures so you can see what has actually happend to your payments.

You have to see their calculations and recalculations or their sure to miss out charges and interest they shouldnt have charged you. If youve over paid you should also be owed interest from them as well.

i would say from the mess theyve made of it you will need as much info as possible to take your complain to the FOS in due course.



Borgbaiter

[WendyB]

Re: WendyB (ficticious) Mortgage Arrears

Have already had copies of their calculations from the first rework. They put back the incorrect interest which was why the payment changed slightly. They haven't charged any charges at all. Its basically a paper exercise as we are not in arrears and they know we aren't, its a cock-up in their system by them allocating the payments incorrectly or not at all. Mortgage account was on a fixed rate for 5 years from the start so i know the payment was the right amount, as were the second two from their respective start dates, so we have definitely been paying the correct amount each month. It's just what they have done with it that is in question. The total figure outstanding is correct, it's internal errors/allocations which are wrong. I will not be doing any reporting to FOS until/unless they don't put it right to my satisfaction. Am going to wait and see what they come up with first.

[WendyB]

Re: WendyB (ficticious) Mortgage Arrears

Got in from Asda tonight (it was hell, in case you're wondering lol) to find a letter from the lovely David (you remember him, he's the one who gave me !00 quid the last time they cocked things up). Well anyway, lots of apologies, they;ve reworked our mortgage (again!!), here's a breakdown of how much you owe, and your mortage payment has reduced by about 50 quid a month to allow for stuff blah blah balh. Oh yes, and by the way we'll be sticking a goodwill payment of £100 into your bank account. Which will be very handy as we are skint and will probably be living on crisps till the end of January.

Well brilliant, a result, I hear you all cheering. Well, I have to confess that was my first thought, My second thought was "a measly 100 quid??? No negotiation? Well I'll ring him tomorrow and squeeze a bit more". THEN, when I'd actually read the figures breaking down the three elements of my mortage, I realised that the outstanding balances ARE STILL BLOODY WRONG!!!!

Original mortgage was 70k. We paid capital and repayment for a while then knocked it down to interest only. Statement as at Mar 08 says we owe £68000 or thereabouts. It allegedly all went wrong after this. Rework shows we owe £68898 at the end of June 09. Seems about right. Second advance was for 25k. Capital and repayment. At end of June 09 after the rework we owe £24181. Again, seems about right. So in 5 months how can the interest only part have gone up to 71k and the capital and repayment (which is £179 a month) have gone down to £22k??

The only bit that seems right is the last further advance for 5k which is now showing just under 5k. Seems they haven't actually cocked this one up (or not as badly anyway).

The incompetence of their system and its operators is mind boggling. I can feel a phone call coming on when I get to work later today, yes I know it's Christmas Eve but needs must.......


Mini rant over.

[Sapphire]

Re: WendyB (ficticious) Mortgage Arrears

Go for it Wends (((((((Hugs)))))))) I reckon this lot deserves at least £1k for all the crap you're going through with them.

[WendyB]

Re: WendyB (ficticious) Mortgage Arrears

Rang David at 8.30 this morning. Thnaks him for the quick turnaround and the £100, said I thought it could have been a bit more. He sounded a bit suspicious, as if he could tell I was leading up to something. Poor bloke. Then I hit him with it, quoted the figures and asked how come the interest only had increased by 2k and the other bit decreased by 3k in a matter of months. Blah blah blah. He sounded suitably gobsmacked. Anyway, the upshot of it is that he is going to look at it again next week and come back to me. I have left him with the comforting thought that he will need to look at the financial compensation side of things in a bit more depth, which he seemed agreeable to. Or should I say resigned to.....

[borgbaiter]

Re: WendyB (ficticious) Mortgage Arrears

hi

worrying they cant do the maths as its pretty much all they do :-)

hope you get as much as possible out of em.

merry christmas



Borgbaiter

[WendyB]

Re: WendyB (ficticious) Mortgage Arrears

Merry Crimbo to you too.

It is quite worrying they can't do the maths isn't it? But what's more worrying is that I personally am quite good at maths, and keep on top of things, but how about people who aren't, and don't? They could find themsleves 10 years down the line owing more than they started with etc etc and up poo creek without a apddle, so to speak. Anyway, I sent a fax detailingwhat I see as the discrepancies, with a request for them to have another look at it and try to get it right this time. And suggesting they might like to "revisit" the gogw in the light of the continuing debacle, and any more gogw payments should be communicated and negotiated with me prior to just shoving into my account. My final paragraph pointed out that " I do not wish to complain to FOS at this stage" (veiled threat implied here lol) and that "If I do decide to take this route I understand there will be a charge to Natwest of £400." (i.e just cut out the middleman and pay me the extra £400 instead)

Let's see what next week brings.

[charitynjw]

Re: WendyB (ficticious) Mortgage Arrears

Let's hope they are better at innuendo than they are at math lol

[WendyB]

Re: WendyB (ficticious) Mortgage Arrears

Spoke to him today, apparently a letter has gonme out so hopefully it will be there when i get home tonight. He states that they haven't upped the goodwill offer thoguh. Will see what it says...

Then I realised that they haven't taken my mortgage payment which should have gone on 31st December! He has no idea why.....so is investigating. Also has no idea why the £100 hasn't been cr4edited to our account yet, so he's investigating that too. He is very nice and very efficient - what am I going to do when he retires in March??

[WendyB]

Re: WendyB (ficticious) Mortgage Arrears

Blimey, how efficient is that? Just had a call back to say that it's probably all due to the bank holiday, because they have called the payment on 31st December., and that tomorrow is the day it is expected to reach them. He will call me back again tomorrow and confirm. I still think it's a bit dodgy because as it's Natwest to natwest, how long can it take? And it has definitely not gone out of my account yet. Oh well lets wait and see what tomorrow brings, and of course i still have the added pleasure of reading the letter late (if it's arrived).

[WendyB]

Re: WendyB (ficticious) Mortgage Arrears

Letter duly arrived, turns out total amount owing correct, but individual breakdowns wrong becuase of interest adjustment not being applied till the next day, or something stupid. It finally appeared to be sorted. My mortgage payment went fromour account, and the £100 goodwill payment went into our account. The only thing was bothered me a bit was the fact that our monthly payment had now decreased by a larger amount than I would ahve expected just due to decrease in rates.

Anyway, tonoght I phoned Natwest Mortgage Centre to confirm which rates I was on for which element of the morgage, and how much each element should be each month. It turns out that the 3 payments I should be paying add up to 25 quid more than I am paying, following the decrease from 31st December when it was all allegedly sorted out. The bloke I spoke to said it looked like there had been an interest refund, which I would expect, as it had all been coked up. However, that got me thinking, sort of crystalised a germ of an idea which had been lurking about in my head. If there is a refund due, however big or small, then it looks to me as if, instead of refunding, they have just recalculated the monthly payment over the term left to account for the refund. This, in effect would mean that instead of the capital reducing by the total amount of the refund now, thus meaning we pay less interest overall, by just reducing the monthly payment instead, we will in the long term be paying more. If you see what I mean? The chap I spoke to was in agreement, however as he was in a different department (retentions and extra borrowing) he couldn't really see what had been done etc. I could be looking atthis completely wrongly, if anyone has any thoughts please shout up.

So it looks like another call to my lovely, almost retired David bloke on Monday morning.......

just when he thought it was safe!!!!

[Sapphire]

Re: WendyB (ficticious) Mortgage Arrears

Blimey Wends this has more twists and turns than an Agatha Christie, well done you for sticking with it though, I would have given up ages ago.

[scoobydoo]

Re: WendyB (ficticious) Mortgage Arrears

Well done you for persevering with this. What you really want to do is keep your MP as it is - but because the debt would be smaller because of the refund you would end up repaying quicker.

If they are re-consilidating the mortgage by the calculations their set method may be to recalculate over the remaining term as defined when you took out the mortgage. do you have a facility on the mortgage to over pay each month? even if you are on a fixed rate of interest there is usually a facilty to over pay by 10% each month. However the disadvantage is to have to remember that each time in the future they adjust your payment you will have to remember to pay more than the monthly payment notified.

[WendyB]

Re: WendyB (ficticious) Mortgage Arrears

Blimey Wends this has more twists and turns than an Agatha Christie, well done you for sticking with it though, I would have given up ages ago.

TBH Sapph it's getting more like War and Peace pmsl.

I can't overpay on nthe main part of the mortgage till my fixed rate deal has come to an end in July. I can on the other two parts though, and did, but since theyv've recalculated element 2 (wrongly, it seems!) I haven't done this month. Element 1 is the one I need to overpay on though as atm this is interest only, need to get back onto repayment but would be a big jump in pyments to do that. Am going to see if there is actually any refund due and if so will see if I can get it taken off this part rather than the two elements with the lower balances. Will see what David says on Monday. I have a feeling this could go on for some time......