morgage contract

john1

New Member
Sep 16, 2009
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Hi all i remorgaged my house approx 4 years ago a took out a fixed rate for 5 years,while decorating the house and moving things around i stumpled across my morgage contract which was jammed between a couple of draws, i had been looking for it for ages and was surprised when i had found it i flicked through it to make sure everything was there and saw a page that stood out a mile
morgage insentives
1 we will pay you £500 after the first year
2 we will pay you £500 after the third year

we both cannot remember recieving any cheques or any money paid into our account for these sums so i phoned them, they were very helpfull and had a copy of the contract in minutes they confirmed that it was correct but when i said i had not recieved any money they seamed surprised said they would look into it that was 2 months ago. I rang again last week and they said they were still looking into it surely if they had sent a cheque or electronic transfer it would not take long to confirm this.what is my legal position is the contract still valid ? Advice much appreciated
 

mlewis09

New Member
Aug 15, 2009
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Scunthorpe
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I don't know much about mortgage's, however it would be useful to know, did you go through an Independent Financial Advisor or straight to the lender?

A Financial Advisor is there to help you, so they could chase up these missing payments, if you went straight to the lender, contact them again, and get/give them a date that this needs to be sorted by ... say 14-28 days.

If after that time, no luck I would suggest a friendly letter saying that they have had x number of months to confirm and they haven't, you now require a cheque for £1,000 to be paid within 7 days.

Don't threaten court action, but be prepared to go to the Small Claims Court to get this money. If you do go through the courst compound interest is added at 8%.