3 weeks ago I asked for a redemption statement so I could repay my mortgage. The first statement that sent included £195 final repayment charge an interest payment that I couldn't understand how it had been calculated and a monthly payment that had not been credited to the account.

I questioned these and was told that Id agreed to the final repayment charge when I took out the mortgage and the interest payment was calculated pursuant to terms id agreed.

The next redemption statement was correct save for the interest Of £84 and the £195 fee. I took issue with this again but got no where.

I rang the FOS and they contacted Barclays and registered a complaint. Ive just spoken with their complaints dept and they now acknowledge that my mortgage offer did not include a repayment charge and they have failed to justify the £84 interest they've debited and are now saying the two redemption statements were just for illustration purposes.

I accused them of Fraud pursuant to section 2 Fraud Act 2006.

I await their next response.

Naughty, naughty.

Regards

3 weeks ago I asked for a redemption statement so I could repay my mortgage. The first statement that sent included £195 final repayment charge an interest payment that I couldn't understand how it had been calculated and a monthly payment that had not been credited to the account.

 

I questioned these and was told that Id agreed to the final repayment charge when I took out the mortgage and the interest payment was calculated pursuant to terms id agreed.

 

The next redemption statement was correct save for the interest Of £84 and the £195 fee. I took issue with this again but got no where.

 

I rang the FOS and they contacted Barclays and registered a complaint. Ive just spoken with their complaints dept and they now acknowledge that my mortgage offer did not include a repayment charge and they have failed to justify the £84 interest they've debited and are now saying the two redemption statements were just for illustration purposes.

 

I accused them of Fraud pursuant to section 2 Fraud Act 2006.

 

I await their next response.

 

Naughty, naughty.

 

Regards

Ive had fun with mortgage companies in the past lol.

http://www.mirror.co.uk/money/personal-finance/man-of-steel-has-won-on-penalties-461858

Just spoke with a media contact who is extremely interested in this. Watch this space.

Regards

Hi Paul,

We'll be watching to see how this unfurls.

Hi Paul,

 

We'll be watching to see how this unfurls.

 

when I initially challenged them they said the fee would have been included in "your mortgage" offer and therefore contractual. When I told them I've got the original from 2002 and there were no provision for a am early repayment and/or an interest charge they said it was mandatory. I've asked the complaints team to listen to the recoded calls and I've asked for copies.

I have no idea how the final interest charge has been calculated and the person in complaints didn't have a clue either.

Regards

Hi Paul,

....... and the person in complaints didn't have a clue either.

No surprises there, then !!

But it's terrible, what they tell you, assuming you have no proof from way back when or that you would not be inclined to challenge them in the way you have.

Hi Paul,

 

 

 

No surprises there, then !!

 

But it's terrible, what they tell you, assuming you have no proof from way back when or that you would not be inclined to challenge them in the way you have.

According to Barclays their system automaticaly includes all historical charges in redemption statements even though in lots of cases the mortgage offer doesn't include one.

The question I asked is how many people have been charged this (system error) when they shouldn't have been.

Im informed they'll respond in writing once they have sought advice because theres now media interest.

Regards

PW

Received the banks response. The banks system is set up to charge every customer an exit fee when they make the final payment notwithstanding the original offer may have not included a fee........very naughty!!!!

The case will feature in the National press a week on Wednesday.

Paul

When I settled my Mortgage Paul with Yorkshire Building Society..I too was charged an " Admin Fee " it was only £100 or so but not sure exactly what it was for.....Postage for return of the Deeds?

Andy

When I settled my Mortgage Paul with Yorkshire Building Society..I too was charged an " Admin Fee " it was only £100 or so but not sure exactly what it was for.....Postage for return of the Deeds?

 

Andy

Why haven't you claimed it back. I claimed the fee back on my old mortgage as it should only represent the cost of closing the mortgage.

When I settled my Mortgage Paul with Yorkshire Building Society..I too was charged an " Admin Fee " it was only £100 or so but not sure exactly what it was for.....Postage for return of the Deeds?

 

Andy

Andy, its estimated that the true cost of closing a mortgage is £35.00

Andy, its estimated that the true cost of closing a mortgage is £35.00

I realise so Paul..Im good at advising others...and not so effective with regards myself:wink:

The Woolwich has hitherto failed to explain how the interest was applied and whether it was applied pursuant to the original terms and conditions. They agree that the statements provided are neither clear nor transparent. I await their further response.

PW