Mortgage Audit

Rusty-Bretta

I would like to have my Mortgage Audited, where may I find a buisness/profession that would do this?

Its in its final year and I note some odd costings and have little faith in their assurances!

Thanks in advance...:)

Meeper

What exactly are you looking for?

Thrugelmir

Odd costings?

CloudCuckooLand

Find a local accountant..?

Thrugelmir

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dunstonh

Some years back there was a fad that mainly came about from a company that reckoned people were being overcharged. They would do an audit and reckoned they would save you money. It soon became clear that it didnt quite work that way and the companies that made such claims vanished.

Rusty-Bretta

Hi, thanks for the replies.

Yeah, there are a few odd costings and terms that have cropped up that I am not happy with, mainly surrounding a Baby Break. I have little faith in their ability to honestly tell me how much I really owe them.

As they, mortgages, are pretty complex to untangle i would like to get a pro to audit it and see what's what and if their sums add up.

I approached a local accountant and he said he couldn't do and didn't really know anyone who can. Bit frustrating really, I didn't expect it would be so difficult to get someone to do this, after all they are big chunks of money we are talking about and we leave it up to the Bank to ensure we are paying the correct amount.

amicusman

Mortgage Fraud Examiners exposed these bogus forensic loan audits two years ago in a press release: "Beware of the Latest Foreclosure Rescue Scam—Forensic Loan Audits."

Meeper

Once again - what are you looking for?

magpiecottage

In theory, I could do it (I do endowment redress calculations), A few things to bear in mind, though:

Generally, a lender's computer systems ARE accurate.

Endowment redress calculations are, really, to a large extent educated guesswork. To be really accurate you need to spend a lot of time on it - and that also costs money. Generally for an endowment calculation I can run it fairly quickly. What you seem to want would take considerably longer.

Think very carefully whether you will actually gain more than it costs you, if anything at all.

Rusty-Bretta

Once again - what are you looking for?

I would like to ensure that I have paid the correct amount of money, nothing more or nothing less. We are being stung by a baby break. They, C&G, explained to my wife we would pay the break over the remainder of the term of our mortgage; now with less than a year to go and the end of our fixed term, they are now billing us for the baby break in the final year by asking for an extra £600 a month!!! This is effectively doubling the cost of the 6 month break. It appears they held the break over from the point of us taking it out and they view it as a loan, now 5 yrs later when our fixed rate period is comming to an end, they want it paid back with all the interest that would have accrued!!!

So, with that in mind ( and my complaint in proccess) i am seeking to have my Mortgage audited to ensure I have paid the correct amount, whilst having it presented to me in a clear manner that i may be able to read the figures and have them explained by someone independant of the bank.