thanks for that at least by taking the money off them and not putting it off my mortgage it makes me feel like they are paying out if they take it off mortgages it means they really are not taking the hit for what they have done too us and no thank god thanks to my wonderful family for the last few years they have kept me from going into arrears and belive me times were tough as a single parent and at the time a very sick child and trying to pay a mortgage with her in hospital for 2 years was now a lot of funHi Fail go yes you will get the money you overpayed for the last 6 years refunded to you however if you have arrears they will clear that first and give you the balance. You will also get compensation aswell as your refund.
ok but the way I see it they wont be paying anything off my capital they will be giving it to me to chose where I want to put it they have taken it off me once they wont do it a second timeBy what Katnia has said about her offer it sounds like they are paying some off the capital and refunding what is left, I don't think she mentioned having arrears
ok but the way I see it they wont be paying anything off my capital they will be giving it to me to chose where I want to put it they have taken it off me once they wont do it a second time
no they never offered me a tracker ever only offered me a variable at a crazy interest rate iv never had a tracker since I took the mortgage in 2006Fail go - had you been on the tracker you're monthly repayment would obviously be lower but at this stage your balance outstanding would actually be lower as well. They are going to set your balance to the lower level (the level it would have been had you been on the correct rate) and give a refund of the overpayments. They are putting you back in the place you would have been had you been put on the right rate at the right time. Thats what I think is happening but I haven't got my letter yet.
that's correctSo you took out a mortgage in 2006 at a fixed rate? And then went to variable? And were never on a tracker at all?
Wow...so even though you never had a tracker, they have put you on one now? That is strange...I thought this redress program only was for those who had been on trackers originally, went to fixed - with a guarantee of being returned to trackers when fixed rate ended - and then were not offered trackers when they came off fixed..
Ya but by the massive drop in interest I think iv been screwed big time so I guess I just have to wait and see what's in the letter and it didnt arrive todayWow...so even though you never had a tracker, they have put you on one now? That is strange...I thought this redress program only was for those who had been on trackers originally, went to fixed - with a guarantee of being returned to trackers when fixed rate ended - and then were not offered trackers when they came off fixed..