MSE News: Thousands of Santander mortgage holders could get payouts after blunder

A question about : MSE News: Thousands of Santander mortgage holders could get payouts after blunder

Santander failed to clearly notify 270,000 Abbey customers it was hiking the cap on their mortgage SVR in December 2008...

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Thousands of Santander mortgage holders could get payouts after blunder

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• I moved my mortgage from Abbey in 2006, so assume I'm not affected. However I moved it to Skipton BS, who increased their SVR to 4.95% from 3.5% when the rates began to fall. They did let us know about it, but the information was in the "small print" and as no one expected to need it, I'm sure we weren't informed before they sent the letter. I understand this was questioned at the time, but never heard any more about it. Are they likely to reimburse me or is it dead in the water? It's cost me at least Ј460 in mortgage payments alone. The 3.5% rate was introduced in April 2009, but not increased to 4.95% until March 2010. You would think they must have been ok with it to begin with. Why increase it?
• Hi thanks for the reply, but it's not that simple. My mortgage is in 2 parts. I moved from Abbey in 2006 and got a great deal with Skipton, but when I moved house, I borrowed another 17k and could only get their SVR of 5.75% on that part. The rate dropped quickly down to 5%, 4.5%, then 3.5% and remained there for 12 months. I still get the good rate on the 1st part, so I would lose out to move the mortgage. I'm sure if the rate had gone up 2.25% they'd have moved it up happily and pocketed the increase. It just smacks of double standards. Thanks again for the reply.
• We took or mortgage out as fixed term. And it ended around 2010, as the rates dropped i phoned them on a few occasions to ask about re-mortgaging or moving and was told i would have fees and it would be cheaper to stay where i was. Has this also been the wrong advice?
• I am new to this forum and frankly find you're attitude both distasteful and unhelpful.
  Here's a thought, if you've nothing to say to help, don't reply!
  I certainly wish I had now ignored you're first response and will not comment further.
• I was on a fixed rate mortgage with santander from 2006, I sold the property in 2010, Could I be one of those affected, Santander cannot inform me as I no longer live there, Should I contact them do you think?
• The number effected is far less than the headline suggests.
  Quote:
• hi TBONES1957
  The best web site to get answers is on property 118 they give great sound advice slagging each over of is forbidden as the admistrator steps in.
• We took out a fixed rate mortgage with Abbey in 2008, fixed for 5 years and have just taken on a new fixed rate deal. Anyone think I've got any chance of getting something out of this. They probably gave me the incorrect SVR details in 2008 and so i'll have made my decision this year based on what I was told back then. Fingers crossed anyway.
• I took out a mortgage in June 2006 with Santander, and due to level of fees was unable to have my ex taken off of it, so I am wondering if I maybe affected.
  Would certainly be nice if I was!! 6 years of struggling with a mortgage on my own would be lovely to get something back!!
• We had our Abbey National mortgage hijacked by Santander and my A&L bank account by the ruthless, shoddy and incompetent Santander Banco. The 25 year mortgage was technically paid off 2010 but these evil, greedy loan sharks slapped Ј7,500 in extra 'fees/charges' although I have never signed any agreement for them to take over the mortgage, or any of their terms and conditions. I contacted the finical ombudsmen and ended up with a junior clark who took 10 months to revue my case, kept quoting wrong figure and did not pass it on to a qualified ombudsman. She ruled in favour of Santander saying that it had a right to extend my mortgage from 25 years to 31 years to pay off the extra fees it had added and they did not have to inform me they had done this or ask for my agreement ? it was it their terms and conditions (which I had never signed or agreed to).
  Also very important: If you do go to the financial ombudsmen their ruling is final and you then do not ten have the right to take the matter to court ! even if you only get an air head office junior and not the ombudsman.
  I do hope I qualify for a refund so I can finally say good bye to their extortion racket without a hefty exit penalty.
  If you are considering a Santander mortgage..... for the love of god DON'T DO IT.
• kingstreet thank you for the correction update, the letter I received in 2010 clearly states it. However they my have changed the rule since and to be honest it would cost me a lot more than the original Ј7500 to take it to court and they can afford the best layers so it still would not be viable. My comment was more of a warning to others form my own experience.