Odd mortgage letter from Halifax?

cmsbfent · 15 Apr 2011 at 21:15

Hey folks

So, on coming home today from work, on my door mat was a letter from Halifax. I've had a mortgage with them now for 5 years, so assumed it was one of the normal 'look at how little you've payed off so far, even though you've given us this much' type letters

Just opened it, and the heading reads:

"Important news about your mortgage. We have credited £985 to your account: Roll number A/645blah blah blah"

"On March 26th we made a goodwill payment of £985.00 and credited it to your mortgage account. You do not need to take any action. We have made the payment because our original mortgage offer may not have explained certain details as clearly as it could have, for which we appologise. These details relate to a cap that limits interest rate rises that are based on the Halifax Standard Variable Rate"

It then goes on to talk about %'s, and margins, and more %'s

So, until I can get hold of them.. does anyone have a clue what its going on about? I fully admit to not knowing jack about mortgages really, and have seen some good advise on here so though someone might be a bit more in the know

Thanks

Al Vallario · 15 Apr 2011 at 21:16

http://www.moneysavingexpert.com/ne...-repay-500-million-to-300000-mortgage-holders

Beans on toast Dave · 15 Apr 2011 at 21:17

http://www.moneysavingexpert.com/ne...-repay-500-million-to-300000-mortgage-holders

beaten

Al Vallario · 15 Apr 2011 at 21:18

challengedavid said:
beaten

like a ginger stepchild

cmsbfent · 15 Apr 2011 at 21:24

Cheers

So, I'm winning?

Al Vallario · 15 Apr 2011 at 21:32

cmsbfent said:
Cheers

So, I'm winning?

Derek W · 15 Apr 2011 at 21:33

cmsbfent said:
Cheers

So, I'm winning?

up until you made that statement :rolleyes:

cmsbfent · 15 Apr 2011 at 21:41

Sorry Derek ; )

So, hypethetically of course, could this 'winning' money be used in any way to do something fun. Or is it just taken off my mortgage balance

..seriously, I know so little about this mortgage stuff it borders on insane to have given me one in the first place

cmsbfent · 15 Apr 2011 at 22:01

After looking to google, for more advise, this very forum post is already indexed

In a geeky SEO web way, that is mighty impressive

Not very helpful for me though

JBod · 15 Apr 2011 at 22:14

Derek W said:
up until you made that statement

Now here is someone without Tiger blood.

mlbtheshow · 15 Apr 2011 at 22:28

oooh, I could be one of those in line for one of these.

Will phone the 'Fax tomorrow.

cmsbfent · 15 Apr 2011 at 23:15

Good move mlbtheshow

And, the icing on the cake for you.. you ready for this...

Turns out, you can infact ring them, and ask for the cheque instead

A little more searching and I found a 14 page forum post over at money saving expert (thanks Al Vallario and challengedavid). Plenty of people have had a similar letter, and after a quick 5 minute conversation, now have a cheque coming to them. Result

I can honestly say I have no idea what the payment is for, but Derek W, I AM WINNING!!

mlbtheshow · 26 Apr 2011 at 12:22

Forgot about this then decided to phone up... looks like we got a nice refund of just shy of 4k

- left it in to have the mortgage in a nice little bit of credit

Pawnless Endgame · 26 Apr 2011 at 13:07

Yeah something similar with Nationwide, my mortgage provider. When I renewed at the 4-year mark, they sent a goodwill of £300 except that it was by cheque. It cashed in OK.