Hi Brendan, I have been receiving the monthly holding letter (in response to my compound interest complaint re my BTL mortgage) from the bank advising me that they would revert in due course. Three or four weeks ago I received a call from a bank official saying that the matter would be dealt with pre Christmas. Yesterday I received another holding letter re my complaint. However, separately I received two long letters plus substantial cheques re my BTL mortgages. It would appear that the bank has been doing its own review of accounts and they have now decided that I qualify for a tracker mortgage. The cheques relate to backdated calculations to when I should have been allowed a tracker. They have also given me a tracker rate going forward (1.9%), another big saving. The odd thing is that I never corresponded with the bank re any of this. I always thought I had missed out on being part of the 300 cohort by a few days, but I wasn't really sure.
Obviously, this added to the previous 12% write down etc is a great windfall. However, I am sharing the news as it might be relevant to others. Also it may open up an opportunity for others in the 5,900 group. I left the letter at home but will publish it on Monday. You will probably understand more than I can, especially the calculations which are quite detailed. Hopefully others may start receiving similar letters.
Obviously, this added to the previous 12% write down etc is a great windfall. However, I am sharing the news as it might be relevant to others. Also it may open up an opportunity for others in the 5,900 group. I left the letter at home but will publish it on Monday. You will probably understand more than I can, especially the calculations which are quite detailed. Hopefully others may start receiving similar letters.