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Daily Interest Charges on Missed Mortgage Payment...
championi
Posts: 8 Forumite
I recently bought my ex out of a property, but the closing balance was a lot greater than expected (i was expecting it to be £68,250k, but it turned out to be about £69,750k).
The only reason I can think of is that a payment was missed in May, and my ex was told that there was going to be interest added to this debt on a daily rate.
We never had confirmation of what the interest would be, but was told that the £50 a month she would pay them would not cover the interest. They appeared to be treating it as a seperate debt.
So I know that £400 is as a result of the missed payment, but i'm wondering where the other £1200 has been added.
I can see that there is a silly fee to close the mortgage of £250... but that still leaves around £1000 (give or take) unaccounted for.
Could we really be looking at almost a grand for interest on that £400???
I've asked them to send me out a full breakdown, but they say it's going to be 4 days to get it to me.
The mortgage was on a buy to let, with TMB (part of Halifax) and we'd been with them for about 5 years.
They also call me MANY times a day, usually there's nobody on the other end, and when there is they want £35 because I answered the call. (I know we've been charged for at least 2).
I don't want to bore you with the details, but it's actually their own fault that the payment was missed and that's a whole other story!!!
Anyway, thanks for any help in advance, I think this is a great community and i'm glad to be a part of it.
The only reason I can think of is that a payment was missed in May, and my ex was told that there was going to be interest added to this debt on a daily rate.
We never had confirmation of what the interest would be, but was told that the £50 a month she would pay them would not cover the interest. They appeared to be treating it as a seperate debt.
So I know that £400 is as a result of the missed payment, but i'm wondering where the other £1200 has been added.
I can see that there is a silly fee to close the mortgage of £250... but that still leaves around £1000 (give or take) unaccounted for.
Could we really be looking at almost a grand for interest on that £400???
I've asked them to send me out a full breakdown, but they say it's going to be 4 days to get it to me.
The mortgage was on a buy to let, with TMB (part of Halifax) and we'd been with them for about 5 years.
They also call me MANY times a day, usually there's nobody on the other end, and when there is they want £35 because I answered the call. (I know we've been charged for at least 2).
I don't want to bore you with the details, but it's actually their own fault that the payment was missed and that's a whole other story!!!
Anyway, thanks for any help in advance, I think this is a great community and i'm glad to be a part of it.
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