Getting money back from mortgage company rant

[gmk666]

Like a lot of people lately, I've just moved mortgages. The old mortgage was redeemed on 29th July. However, the coneyancers advised not cancelling the DD that was due on the 30th, in case of last minute hitches. I could then reclaim that payment. Fair enough, I suppose - if the mortgage hadn't been completed for whatever reason, I would have technically defaulted on a payment and been added to some list of shame.

This is where the fun starts.

Four weeks later, I still haven't got that payment back. One month's mortgage payment has been sitting in their account for weeks, while the tossers (with branches Nationwide if you're interested) sort themselves out.

Three weeks ago they said I'd get a cheque within 'ten working days'.

Yesterday they said they're looking into it for me.

Today they're not returning my calls.

Any suggestions?

[Justayellowbadge]

Yep.

The shareholders will enjoy their bubbly.

Thanks.

[Vesuvius 996]

Yeah don't fall for that old chestnut again.

[Alleggerita]

Justayellowbadge said:

Yep.

The shareholders will enjoy their bubbly.

Thanks.

[Olf]

You need to take direct action. Suggest buying a semi auto 9mm down at your local wetherspoons, get down the nearest one of those nationwide branches and go POSTAL ON THE fkERS.

[jeff666]

brick the fkers windows

[gmk666]

anonymous said:

[redacted]

Funny that, since the tw@ts sent me a letter last week wanting to know why I'd cancelled the direct debit...
Not sure I was that calm or collected as I explained why.

[gmk666]

Vesuvius 996 said:

Yeah don't fall for that old chestnut again.

Thanks for that. Your help is most appreciated.

[scotal]

gmk666 said:

anonymous said:

[redacted]

Funny that, since the tw@ts sent me a letter last week wanting to know why I'd cancelled the direct debit...
Not sure I was that calm or collected as I explained why.

You are sure the mortgage has been properly redeemed right?

[Busamav]

call your bank and tell them a payment has been taken without authorisation.

The terms of the DD you have in place guarantee them to retrieve the payment for you

[gmk666]

scotal said:

gmk666 said:

anonymous said:

[redacted]

Funny that, since the tw@ts sent me a letter last week wanting to know why I'd cancelled the direct debit...
Not sure I was that calm or collected as I explained why.

You are sure the mortgage has been properly redeemed right?

Yes it's all fine, thanks. A bit of digging revealed the money was in some 'holding account' with them.

[SS HSV]

gmk666 said:

anonymous said:

[redacted]

Funny that, since the tw@ts sent me a letter last week wanting to know why I'd cancelled the direct debit...
Not sure I was that calm or collected as I explained why.

Ah the letter was probably sent out by a computer. Clever things computers are.. until a human forgets to action something somewhere down the line and it all goes out the window. 99% of what banks do is system fed automatically so its now virtually impossible for a human to work out what went wrong IMO.

I had a mortgage with 'them' too a few years ago it was an absolute nightmare. I waited 6 months for my cashback which was due after 3 months and I am still trying to claim funds back since their cash point stole my Halifax card after debiting £50 which they say was 'lost' in an electronic transfer.. that was some six weeks ago

[eltax91]

Same happened with that same company to me. I went to the bank that my current account is with (different from mortgage company) and did an indemnity claim against the direct debit. You just need to have a contact name/ number at your local NW branch.

Best thing was that NW then got their arses in order and sent me a cheque, which i cashed, and seemingly have still not noticed it's missing yet. I posted a thread on it when it happened...

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

Edited by eltax91 on Wednesday 27th August 18:03

[Killer2005]

gmk666 said:

scotal said:

gmk666 said:

anonymous said:

[redacted]

Funny that, since the tw@ts sent me a letter last week wanting to know why I'd cancelled the direct debit...
Not sure I was that calm or collected as I explained why.

You are sure the mortgage has been properly redeemed right?

Yes it's all fine, thanks. A bit of digging revealed the money was in some 'holding account' with them.

Is this the money that that was being used to redeem your mortgage or the money from your DD?

[gmk666]

Killer2005 said:

Is this the money that that was being used to redeem your mortgage or the money from your DD?

The money to redeem my mortgage. God knows where the money from my DD is, although they do acknowledge they owe me it.

Just spoken to them again. They're still looking into it and have offered to reimburse me any interest I have lost while they've got my money. I'll believe that when I see it.

Edited by gmk666 on Wednesday 27th August 18:10

[Killer2005]

gmk666 said:

Killer2005 said:

Is this the money that that was being used to redeem your mortgage or the money from your DD?

The money to redeem my mortgage. God knows where the money from my DD is, although they acknowledge they owe it.

Just spoken to them again. They're still looking into it and have offered to reimburse me any interest I have lost while they've got my money. I'll believe that when I see it.

I work for a different mortgage company making said payments, and we just pay straight into the accounts so I dont see why it would be in one of their accounts

[Jasandjules]

Write to them and advise you are now charging interest on the debt from the date they were notified until the date it is paid, at 8% (The Court Approved rate). I would also notify them that cleared funds constitute payment, receipt of a cheque does not, until it has cleared.

[topchef]

Jasandjules said:

Write to them and advise you are now charging interest on the debt from the date they were notified until the date it is paid, at 8% (The Court Approved rate). I would also notify them that cleared funds constitute payment, receipt of a cheque does not, until it has cleared.

The 8% interest is pursuant to s.69 of the County Courts Act 1984 - and is only applicable once you file in court - i.e you can only start to add interest from the date you file in court.

Send them a 14 day letter before action (LBA) if no reply by the 15th day file in court.


Simple.

[Jasandjules]

You can advise them you are charging interest in line with the court approved rate, i.e. the amount that a court would award in the event you are successful in proceedings, when a debt is owed. A continued failure to pay constitutes acceptance of your charge imposed (in the same way you can charge money for writing letters along the same lines as a costs preparation order, but you don't need to be in litigation to do so). Proceedings don't have to be issued for people to charge interest, how else do you think mortgage companies charge you?

Edited by Jasandjules on Thursday 28th August 08:17