Extended Mortgage term and Buildings Insurance Premiums.

[Still Waving]

Just a note of caution - don't let your impatience work against you.

From the ICO guidance on SARs:

• You should respond without delay and within one month of receipt of the request.
• You may extend the time limit by a further two months if the request is complex or if you receive a number of requests from the individual.

Thanks Still Waving, the SAR i done on the phone Nov 12th, they also gave me a reference number. They said should have it within 28 days, but hopefully sooner. I spoke to my ex missus and she told me that we did pay the mortgage direct from our bank prior to about 1997. So it will either be DD or SO, she couldn't quite remember and TBH neither can i .

[Still Waving]

It's part of their misdirection. They are pointing to every other reason you paid less than was actually needed to keep on track for the original term, except the wrongly calculated repayment at outset. They are still studiously avoiding that topic.

When did you send the SAR and was it recorded delivery? They have 1 month from date of receipt to provide the information, in normal circumstances. You now need that information.

EDIT: Another non-sequitur in the recent letter - They "cannot agree a refund is due as there is a mortgage balance still outstanding". They could however rebate the account if they wished.

Also, something else i have picked up on where they have tried to confuse me in their 2002 letter :



Now the Mortgage commenced Jan 1989 and it was somehow re purposed and given an extended term on the 1st Jan 1993 . So whatever the reasons for the shortfall the act would of had to happen between those dates. They've listed an insurance premium for 1993 for £134.51 .But the term had already been extended by then so this is really to make my shortfall look larger than it was.

Ok got my letter today. They're not entertaining this at all, and they suggest the FOS won't either. Although they say i can approach the FOS:





Thats not the end of the road for me although it is going to be tough.

Well suprisingly i got a quick response back from a "complaints investigator" . I asked them the question i said in the post above. I have asked this before but they havn't answered, mentioning time limits and they thought i was happy etc... Anyway the email i recieved this morning at 10.30am says this:

Thank you for email on the 22 November 2021, and the request you have made for a breakdown of the opening balance and monthly repayments.

We have requested for a response to be issued to you in writing, providing you with a breakdown which you should receive in the next 7-10 working days.

Now does that sound like i am going to get the calculation that i asked for or does it sound like i am going to get what i already know..............?

Ok, i still havn't recieved response letter, and TBH i couldn't be bothered to wait any longer I know my complaint has been declined as they told me on the phone. I've asked them one simple question as an existing mortgage holder : My mortage commenced on 23rd Jan 1989, it was for £13,301.xx , i was quoted and paid £118.xx . "What calculation did they use to arrive at that figure, when i know that i can work out my shortfall and set my mind at rest."

I'm very gratefull to all that have responded here so far . Even though the information is all there looking me in the face its been hard to unravel/notice/understand and i really appreciate every comment even if you feel you're giving me a negative. A negative is a plus !!

In my mind if they tell me it was a mistake then its pretty much game over for them and given its gone on for so long i'll be getting a crime number /reference!

On the other hand, you may just be about to learn something about maths and you will find out fully how a £118 monthly payment will fullfil a £13.3 loan @ 12.75%.

Havn't even got my SAR yet, that will just be icing on the cake i think. Their response to that simple question should unlock the lot...................

[Still Waving]

And should have show revised payments! In fact revised payements automatically advised ta each Rate Chnage!
The Payee isn't clairvoyant

Indeed, and a point of particular interest is whether the OP was advised in Jan/Feb 1989 of a new repayment due to the rate increase, and whether they corrected their original error, ie by calculating the correct repayment amount from that point. From the gobbledegook in their letter about basing new repayments on the previously registered repayment, the second point seems unlikely.

Yes, its the statements from 1989/90/91/92 that should be the most revealing and i don't have them yet. Also as a current mortgage account holder they should be able to explain to me how the £118 figure was arrived at. That will be a very simple formula for them to explain to me.

[Roger]

The statement (2009) posted earlier in the thread did show three changes of rate during the year, so yes all statements ought to show the relevant rates.

And should have show revised payments! In fact revised payements automatically advised ta each Rate Chnage!
The Payee isn't clairvoyant

[Still Waving]

These statements could well be the proper basis for a FOS investigation

Do the statements anywhere show the then current interest rate % ?
Because this is the central plank of their argument!!

An omission of this would be frankly almost criminal!

The statement (2009?) posted earlier in the thread did show three changes of rate during the year, so yes all statements ought to show the relevant rates.

[Roger]

Thanks for replies. Sorry for any confusion, even though i have a lot of mortgage statements i had to dig through them to find the original start date and original loan amount. Its not listed on them all. From memory i knew it was "about" 13k , my statements confirm the start date was January 1989 and the loan was for £13,301.72. The monthly payment quoted and paid was £118.xx .

These statements could well be the proper basis for a FOS investigation

Do the statements anywhere show the then current interest rate % ?
Because this is the central plank of their argument!!

An omission of this would be frankly almost criminal!

Thanks for replies. Sorry for any confusion, even though i have a lot of mortgage statements i had to dig through them to find the original start date and original loan amount. Its not listed on them all. From memory i knew it was "about" 13k , my statements confirm the start date was January 1989 and the loan was for £13,301.72. The monthly payment quoted and paid was £118.xx .

[Still Waving]

I'm also wondering if it's very carefully worded. The phrase 'At this time you were quoted an instalment of £118.69' seems deliberate, almost as if they made a mistake at that point but want to obscure the fact. I make that a payment on a 25-year mortgage of around £10,750 at 12.5%.

I agree with your calc NM. The OP has said that the mortgage was for around £13.5k or maybe £12.5k, and later £13.3K, so there may be a bit of doubt about the actual amount. However, unless it was £10.75k that quoted repayment of £118 pm is AN's first error.

[Night Monkey]

The letter is a masterclass in obfuscation.

I'm also wondering if it's very carefully worded. The phrase 'At this time you were quoted an instalment of £118.69' seems deliberate, almost as if they made a mistake at that point but want to obscure the fact. I make that a payment on a 25-year mortgage of around £10,750 at 12.5%.

Also '...however you continued to pay £118.69' is pointing the finger of blame at you when surely they had the responsibility to make you aware of any necessary changes to the payment schedule?

It will be very interesting to see what the SAR shows up.

marylikes, I hope it is sorted in your favour.