We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Abbey change flexible terms - is this legal?
ninky_2
Posts: 5,872 Forumite
With my recent mortgage statement for my Abbey flexible mortgage they have included some updated charges. They are now proposing to charge a £15 admin fee for direct debit change if there have been more than 3 such changes in a year.
The reason I took out this mortgage was for its total flexibility and absence of early redemption or overpayment charges. This seems like introducing them by stealth. Is this legal?
Due to the freelance nature of my work I make frequent changes to my monthly payment and certainly am likely to make more than 3 a year.
The reason I took out this mortgage was for its total flexibility and absence of early redemption or overpayment charges. This seems like introducing them by stealth. Is this legal?
Due to the freelance nature of my work I make frequent changes to my monthly payment and certainly am likely to make more than 3 a year.
Those who will not reason, are bigots, those who cannot, are fools, and those who dare not, are slaves. - Lord Byron
0
Comments
-
Set your direct debit at a lower level, and make manual overpayments with internet banking every month/quarter/year instead.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards