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HELP!!! somehow owe £10k more than i borrowed.
ragstoricheswannabe
Posts: 2,090 Forumite
Going to ring northern rock but just wanted to check that its not right b4 i do.
Took my mortgage out in nov 2006 and had £16k as a deposit from our previous house. we bought our house at £156.500 but only needed to borrow £143k.
Looking at our statement (which i dont normally bother to do) i have found we now owe £152k!!!!!!!!!!!! :mad: we pay approx 6/7% and have never missed a payment so it doesnt add up to me. on a repayment mortgage and pay £868 a month.
Any ideas? am i getting it wrong? Our fixed rate ends next nov and looking at these figures i dont own as much of the house as i did when we bought it which means its not looking good for getting a good deal next year!!!!!
Took my mortgage out in nov 2006 and had £16k as a deposit from our previous house. we bought our house at £156.500 but only needed to borrow £143k.
Looking at our statement (which i dont normally bother to do) i have found we now owe £152k!!!!!!!!!!!! :mad: we pay approx 6/7% and have never missed a payment so it doesnt add up to me. on a repayment mortgage and pay £868 a month.
Any ideas? am i getting it wrong? Our fixed rate ends next nov and looking at these figures i dont own as much of the house as i did when we bought it which means its not looking good for getting a good deal next year!!!!!
December 2018: £20,850.24. Now: £18,333.02 Total paid in 2019: £2517.22
Weight loss: 1.5lbs
Weight loss: 1.5lbs
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Comments
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is the statement including any redemption fees that would be payable if you tried to pay the entire amount off at this point in time. Also were any product fees added to teh mortgage when you toook it out?0
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Sounds like a redemption figure (including ERCs) rather than a balance, but if you're in doubt give your lender a call.0
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One old mortgage we had, can't remember which lender, would include all the monthly payments due in the year on the annual statement. Always caused a fright on first glance.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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thanx everyone, going to ring them to clarify as it has given me a fright! will let u know what they say!!!December 2018: £20,850.24. Now: £18,333.02 Total paid in 2019: £2517.22
Weight loss: 1.5lbs0
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