Countrywide have just sent me a letter saying they will increase my monthly

PaulSt73

payments by £40 a month as my plan will not hit what I need to pay off my mortgage (I stopped using it as the vehicle to pay of my mortgage years ago).

Their letter says I have to do nothing and they will increase my payments automatically in January. There is not mention of how I can stop them increasing the payment or any right I have to stop them.

Before I phone them up and tell them I don't want it increased what are my rights?

For the record the endowment will be 10 years old in Janurary.

koexelek

You can leave the payment as it is.

They are just saying they will up it unless they hear otherwise.

Just ring, say you aren't relying on it to repay the mortgage anymore and are happy to keep the payments the same.

PaulSt73

Cheers, thought that was the case.

It is all wrong though as there is no mention that you don't have to increase it and what to do it you don't want to.

As it it coming upto 10 years old I am considering selling it anway.

PaulSt73

Cheers, thought that was the case.

It is all wrong though as there is no mention that you don't have to increase it and what to do it you don't want to.

As it it coming upto 10 years old I am considering selling it anway.