Mortgage Express - extra charge on redemption due to internal change to payment date

dawnedwards

I have just received a redemption figure from Mortgage Express for an interest only mortgage. I have had the mortgage for 10 years and the amount outstanding has remained the same for that time. Apparently I owe an extra month of interest at the prevailing 2005 rate due to them deciding to change the way the interest was charged from "in arrears" to "in advance". Surely this cannot be right as I have paid religiously by direct debit and have never missed. They are telling me I was never told about this "internal change" which was made to allow people to pay on any date they chose in the month. I have always paid on the same date since there was no choice when I took the mortgage out. Surely a mortgage over 120 months should have 120 payments? How can I now owe another month, and if I do, how can it be on the 2005 rate rather than the current rate which makes the payment 3 times what it would be now!!!!