Yorkshire Bank - out of the frying pan.....

VIGILANT22

What exactly is the shortfall, can you pls explain this?..Or what they informed you, I somehow feel information has not been communicated/deciphered properly

Wutang_2

lobatt wrote: »

Exactly! Thought I'd left this problem behind when I dumped my endowment and started afresh with a brand new repayment mortgage at a new bank

Ye cannae have a shortfall on a repayment mortgage.

lobatt

VIGILANT22 wrote: »

What exactly is the shortfall, can you pls explain this?..Or what they informed you, I somehow feel information has not been communicated/deciphered properly

During a phone call to my branch I was told there is a problem with the product but they did not say what ( not with anything I'd done).
A letter would be sent out to those affected.
If I were to carry on paying at the rate I am now it will take an extra ten years on top to finish.

lobatt

I guess you can if they have had you paying the wrong amount.

VIGILANT22

I undertsand YB offset clients rcv monthly overview letters which highlight your monthly interest savings ...how come this was discovered by a call to the bank? Do you fully undertsand how your mortgage works and how to get the best out of an offset?

lobatt

Not sure if it is still an offset after the two year initial discount period?
I was just, well I thought I was getting a good deal on the 1 percent above b of e

VIGILANT22

How much is your mortgage for, val of property and how much do you pay each month?...

lobatt

£268 month, £40,360 outstanding. Was £48000 when It began

Peelerfart

£40,360 at 1.5% over 14 years = £266.49 per month

VIGILANT22

£40,360 @ 1.5% over 14yrs is £268 month...It is absolutely bang on.....