Mortgage issue
Discussion
I have had a Britannia mortgage for the last 20 years, in May/June 2024 they were all transferred to the Co-op bank. It was bad timing as I was actually selling the house in July but it transferred anyway. A week or two before the sale I checked my credit file and noticed I had two mortgages showing, I rang Britannia as I was worried it may scupper the sale and was assured it would be sorted. The sale went through without a hitch and a few weeks later one of the mortgages was marked as settled, but the other remained as outstanding. A few more phone calls and an official complaint have not resulted in the mortgage being removed from my credit file, and today I have noticed it is now showing as unpaid for the last two months. The last response from the Co-op was a letter apologising for the delay, but as of today it looks like they have done nothing, where do I go from here as its obvious the Co-op can not resolve it?
Little Lofty said:
I have had a Britannia mortgage for the last 20 years, in May/June 2024 they were all transferred to the Co-op bank. It was bad timing as I was actually selling the house in July but it transferred anyway. A week or two before the sale I checked my credit file and noticed I had two mortgages showing, I rang Britannia as I was worried it may scupper the sale and was assured it would be sorted. The sale went through without a hitch and a few weeks later one of the mortgages was marked as settled, but the other remained as outstanding. A few more phone calls and an official complaint have not resulted in the mortgage being removed from my credit file, and today I have noticed it is now showing as unpaid for the last two months. The last response from the Co-op was a letter apologising for the delay, but as of today it looks like they have done nothing, where do I go from here as its obvious the Co-op can not resolve it?
They have 8 weeks to provide an outcome to your complaint. Once they do, if you aren't happy with the outcome or it exceeds 8 weeks, submit a complaint to the Financial Ombudsman. Edited by Sarnie on Friday 29th November 17:52
Sarnie said:
They have 8 weeks to provide an outcome to your complaint. Once they do, if you aren't happy with the outcome or it exceeds 8 weeks, submit a complaint to the Financial Ombudsman.
Thanks, my first phone complaint was back in June, my first official complaint was September, they told me it was resolved and gave me a whopping £25 compensation, they didn’t actually do anything apart from pay me the £25 so I complained again about 7/8 weeks ago. As of today the mortgage is still showing on my credit file, so once again they have failed to do anything. Bizarrely the mortgage is shown as paid June/July/Aug/Sept and unpaid Oct/Nov, obviously I haven’t paid it since it was transferred in May so I’ve no idea where Transunion are getting their info. Transunion won’t help as they have said the Co-op need to update them Edited by Sarnie on Friday 29th November 17:52
Caddyshack said:
I don’t think compensation is the thing to look for as your are not really financially out of pocket, it’s just a pain having to chase up what should have happened.
I agree to an extent but I have spent a lot of time chasing this up, it took at least 60 minutes to get through on the phone and I have probably rang 4 or 5 times, I didn't ask for the £25 they offered it so I took it, if they offer again I will take it. I’d much rather they just bloody sorted the issue though.Little Lofty said:
Caddyshack said:
I don’t think compensation is the thing to look for as your are not really financially out of pocket, it’s just a pain having to chase up what should have happened.
I agree to an extent but I have spent a lot of time chasing this up, it took at least 60 minutes to get through on the phone and I have probably rang 4 or 5 times, I didn't ask for the £25 they offered it so I took it, if they offer again I will take it. I’d much rather they just bloody sorted the issue though.Sarnie said:
submit a complaint to the Financial Ombudsman.
If you do need to do this don’t expect a magic bullet.I complained to them in August and after three months it was finally assigned to a case handler. I replied to their emails same day but their response was always a full week later.
I received their resolution last week, a bit late and pretty useless. They offered £250 but can’t tell me when the mortgage will be removed from my credit report, it’s all a bit bizarre, surely it can’t be difficult to correct a simple error. It appears I’m one of many this has happened to though, so maybe they are inundated. I obviously haven’t accepted their offer and have now filed a complaint with the ombudsman, let’s see how they fair, I don’t have high hopes.
The FOS will want to know what "loss" you have incurred.
It doesn't seem that there has been any financial loss here?
It's more an inconvenience, which they may say that the lender has to offer you something for that, which it seems they have already?
The FOS can't actually do much more than that, they can't actually rectify your issue around the mortgage not showing as settled.....
It doesn't seem that there has been any financial loss here?
It's more an inconvenience, which they may say that the lender has to offer you something for that, which it seems they have already?
The FOS can't actually do much more than that, they can't actually rectify your issue around the mortgage not showing as settled.....
Sarnie said:
The FOS will want to know what "loss" you have incurred.
It doesn't seem that there has been any financial loss here?
It's more an inconvenience, which they may say that the lender has to offer you something for that, which it seems they have already?
The FOS can't actually do much more than that, they can't actually rectify your issue around the mortgage not showing as settled.....
I’m not after compensation, I just want it removed. At the moment it looks like I have a mortgage that I'm not paying. Luckily I didn’t need another mortgage when I moved house and don’t need any loans, but if I did I would have had all sorts of issues. I just don’t understand why it’s so difficult to remove, they have had over 6 months.It doesn't seem that there has been any financial loss here?
It's more an inconvenience, which they may say that the lender has to offer you something for that, which it seems they have already?
The FOS can't actually do much more than that, they can't actually rectify your issue around the mortgage not showing as settled.....
If the FOS and TransUnion can’t help and the Co-op won’t help, then where do I go from here?
Little Lofty said:
I’m not after compensation, I just want it removed. At the moment it looks like I have a mortgage that I'm not paying. Luckily I didn’t need another mortgage when I moved house and don’t need any loans, but if I did I would have had all sorts of issues. I just don’t understand why it’s so difficult to remove, they have had over 6 months.
If the FOS and TransUnion can’t help and the Co-op won’t help, then where do I go from here?
I understand entirely.If the FOS and TransUnion can’t help and the Co-op won’t help, then where do I go from here?
I'm just saying that the FOS is there is help people who have been financially impacted by poor service and/or advice.
It's not really going to help you get what you want, which is the mortgage removed, as they don't have that power.
Transunion can't help as they can only go by the data provided to them by the lender.
It's the lender you need to chase until they do what you want.
POIDH said:
Am I the only one interested in why you have not moved mortgage provider for 20+years - surely there are better deals on offer?
It was an offset mortgage at 0.24% above base, no one could beat it, maybe in the last year or so but it wasn’t worth changing as it was coming to an end.Little Lofty said:
POIDH said:
Am I the only one interested in why you have not moved mortgage provider for 20+years - surely there are better deals on offer?
It was an offset mortgage at 0.24% above base, no one could beat it, maybe in the last year or so but it wasn’t worth changing as it was coming to an end.Gassing Station | Finance | Top of Page | What's New | My Stuff