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Will lender write to me?
ultramagnetic_commuter
Posts: 154 Forumite
Easy question!
Current fixed deal comes to an end at end of month. Considering moving in new year (yes, I know...) so we won't be getting another fixed deal. We'll revert to SVR for a few months to give us maximum flexibility come the new year when we're borrowing a bit more.
Question is, will my lender (A&L) write to me to tell me my new repayments at end of my fixed term? Or will my Direct Debit just go up without notice?
Thanks
Current fixed deal comes to an end at end of month. Considering moving in new year (yes, I know...) so we won't be getting another fixed deal. We'll revert to SVR for a few months to give us maximum flexibility come the new year when we're borrowing a bit more.
Question is, will my lender (A&L) write to me to tell me my new repayments at end of my fixed term? Or will my Direct Debit just go up without notice?
Thanks
0
Comments
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Any change in payment for a direct debit should be preceded by a letter advising of the change so A&L should indeed write to you.
You could always give them a call to double check on that and the figuresI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks. I've a pretty good idea what it will revert to but would like to know if I've done my sums right!
I'll wait for a letter which should be soon as product runs out 31st Oct.
Cheers0
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