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Arrears Fees & Interest
dwightvanman
Posts: 15 Forumite
Hello,
Just after a bit of advice if thats ok - I've got an interest only mortgage which over the last year, I've missed payments and had payment arrangements on. In all, theres been about £600 of bank fees added to the balance, on which interest is being charged. I've realised though, that the bank have never amended my direct debit to reflect the balance increase caused by their charges, so my mortgage balance has actually been increasing as I've not been paying off the interest on the charges each month. Is it worth complaining about this? I appreciate why they make charges for late payments, but the interest situation is making my (shakey) financial situation even worse...
Just after a bit of advice if thats ok - I've got an interest only mortgage which over the last year, I've missed payments and had payment arrangements on. In all, theres been about £600 of bank fees added to the balance, on which interest is being charged. I've realised though, that the bank have never amended my direct debit to reflect the balance increase caused by their charges, so my mortgage balance has actually been increasing as I've not been paying off the interest on the charges each month. Is it worth complaining about this? I appreciate why they make charges for late payments, but the interest situation is making my (shakey) financial situation even worse...
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