is my 0.25% rise correct?

julie88_2

I have a £49000. morgage with the chelsea B.S. but the 0.25% rise is an extra £33 is this correct it just seems a lot for a quater percent. My morgage is a repayment on daily interest. Forty nine grand is the present balance. percent raise is from 6.49% TO 6.74%.

Anyone good with figures check this please as the building society could not give me an answer over the phone.

thank you.

dang

I get it to around £10.20 P/M.

Maybe someone else can also check?

nomoneytoday

£49000 x 6.49% = 265per month interest
£49000 x 6.74% = 275.22 per month interest

dumpy

Weirdly ,the letter I received from my mortagage provider states an amount of £20 LESS than I was previously paying..... I'm on a base rate tracker so I'm not sure what they have done here! It looks like they have taken the amount off, not added it on!

I'm wondering whether to tell them or not!

But back to your point it does seem a bit high but I'm sure that someone else will be along to explain it.

md_14uk

I would call them and tell them you think the increase is incorrect and ask them to explain it!

julie88_2

I did ring them, while they were sorting it I was cut off, I rang back cut off again, 3rd time I was told someone would write to me. Thankyou for the replies it supports that what I was thinking

Wyndham

The media tend to say that a 0.25% rise is 'about £15' on a 100,000 mortgage. So by the rough calculation, you should be around half that. It sounds too high to me, as others have said - so yell!

david78

Or leave it if you can afford it and you are a MFW as you will be overpaying. (Check you are paying the rate you think you are paying though).

TEDDYRUKSPIN

Don't leave it. If you believe it to be incorrect you must tell them.