C&G / LLoydstsb offset mortgage

ABRDF

Hi

Does anyone here reading this have an offset mortgage account with C&G / Lloyds. We have had an offset account for 3 years with them and have been trying for the past year to get them to explain how they calculate the figures. Every three months we get a statement this shows our offsetting, mortgage balance and number of months until completion (all of which they say are estimates). We noticed last year when the interest rate drops the number of months to the end date increase and when we are offsetting more and over paying also the number of months increases with each rate drop. They seem unable to explain.... can any of you experts explain???

We think / know that the outstanding number of months should be dropping, they say that they only calculate the account statement based on the due monthly amount and the interest rate.

Are other people having the same with their offset from C&G/ Lloyds?

Thanks

ABRDF

Angua_2

Hi, replied to your other post in the Mortgage-Free Wannabe thread. Only just spotted this post.