Unexpected Payout from Woolwich-Advise Plz

mountaingreen

Hi Folks, Im new to the forum, but regulary read through all the great advise provided else where on the site.

Woolwich have taken a review of my Mums Mortgage and have sent her a cheque for a substaintial amount of money.:j

Although she is very grateful, i just wanted a little bit of advise!

On the letter Woolwich have advised that my mum had choosen to make fixed payments over the period of her mortgage, however the interest charged was variable. Apparently that when interest rates changed my Mums payment was not automatically adjusted to reflect the actaul amount of interest due.

The interest debited to the account was correctly applied, but because the adjustements to the payments were not made, the total amount that was paid is more that what she had originally expected to pay.

So as a gesture of good will they have sent her this cheque, and paid off the £3000@ outstanding on her mortgage.

I have contacted the company on my mums behalf and have asked for a calculation of how the figure returned was calculated. They advised that this was a gesture of goodwill, and that no actual calculation was made, however they would send my mum a spreadsheet detailing the breakdown of Payments, and that from their end this was again a gesture of goodwill.

This maybe all very well, but i just want to make sure that this procedure is correct and that my mums return is also correct.

Any help at all would be greatly appreciated.

Thanks