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

amazamum

Sounds like its my mortgage,we are with the yorkshire bank tracker mortgage discounted for the 1st 2 years,now 1% above bofe base rate so paying 1.5% at moment,discount for us ended nov 2009 our mortgage was over 11 yrs on a 43000 paying 430 a month now 9yrs left sounds like you are paying a lot less than us for about the same amount + time.
Hope you get it sorted

lobatt

Only have ten years of the fourteen left though, I'm four years in now

VIGILANT22

In that case your payments should be approx 365.00

VIGILANT22

amazamum wrote: »

Sounds like its my mortgage,we are with the yorkshire bank tracker mortgage discounted for the 1st 2 years,now 1% above bofe base rate so paying 1.5% at moment,discount for us ended nov 2009 our mortgage was over 11 yrs on a 43000 paying 430 a month now 9yrs left sounds like you are paying a lot less than us for about the same amount + time. Hope you get it sorted

Yr payments are correct..

Gorgeous_George

£268 per month wouldn't pay the mortgage in 10 years off at 0%.

If the OP is right, it sounds like a clerical/computer error (for 'computer error' read 'person error').

Be interesting to know the outcome of this one.

Did you have money in the offset? Maybe the repayment was calculated to ensure that after 10 years your offset savings would pay the remainder of the mortgage.

GG

lobatt

The offset part is just a side issue really as it has only knocked off £127 in total since I started

lobatt

Sounds odd but can you be missold a repayment mortgage if it doesn't do what you signed up for.

The payments didn't look odd when I took it out as I was paying just over £400 a month then when interest rates where higher. That equates to £72000 over 14 yrs so it would not rang any alarm bells at the time, well not with me anyway

VIGILANT22

you need to refer to your original paperwork and get yr head round what type of mortgage you actually have...plus a meeting /explanation with the bank..

lobatt

Yup need a breakdown on whats happened here, will get back

lobatt

Well was contacted by my branch and given a free phone hotline number to ring, none of this press this number, press that number, 1 ring and then picked up.
Was told it was a calculation error but they couldn't say exactly when it occured. Was advised it happened at some point when there were numerous drops in the b of e base rate. Basically had apologies, but my payments have been hiked.

Please be aware, I am not an islolated case on this one.

Also dont want any more pm asking for my personal details in order to help me!
just get worried when the message isn't on the forum and comes by pm asking for more info on myself.