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wrong mortgage rate
smiley01_2
Posts: 1 Newbie
Our building society have written to us to say that since May 2008 they had wrongly been taking the incorrect interest on our mortgage. Our fixed rate ended in May 2008 and instead of them reverting the payment back to the variaBLE RATE OF 5.35% They have incorrectly been taking the previous fixed rate of 5.04% They have written to advise that they have now increased our direct debit by approx £25 per month to cover the underpayment. Can they do this?
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Comments
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Yes. .0
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Jeeeezzzzzzzz.
For gods sake zx81 stop fannying about and get to the point already!!!!!
I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
ha ha, Funny betmunch.0
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Actually, I think it would be worth a look at one of the Yorkshire/Clydesdale Bank threads.
I think you should exhaust their complaints procedure and go to the FOS if necessary.
At the very least they should not be charging you any interest on the underpayments.0
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