I spoke with Woolwich in August last year about additional borrowing: they claimed I needed to move to a capital repayment to qualify.
I told them if I could secure the borrowing I would make the change.
Next thing I know I have an arrears letter for 2400GBP claiming that this phone call had allowed them to make the change and that I owed them an additional 345GBP per month through last 5 months of the year.
When I called to complain the first two or three people said they could not find any reason for the change and it should stay as interest only.
Finally today I speak to a member of their team who says:
a) I was told on the phone call and they have honoured my request to change to repayment: no contract is apparently necessary to make this change and they can not change it back
b)they said as i have a standing order to pay my mortgage they were unable to make any changes to my account information
c) they do not offer interest only mortgages so I can not change back
None of this makes any sense and I am happy to pay them my mortgage but do not like the idea that a phone call authorises them adding 75% to my mortgage each month...
Does anyone know if it is possible to use a phone call to authorise a mortgage change, and also what the steps are that I can take to make them correct this ?
Any support gratefully appreciated as am finding them a complete nightmare to deal with on my own!!
FOS are happy to register complaint and send a letter but hoped there might be a better solution via this forum!