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Why would mortgage balance increase?
xxSaffronxx
Posts: 102 Forumite
Just checking my husbands credit file on the mortgage he has with his ex and over a year the balance has been as follows:
£117,354 @ June 2011
£117,770 @ July 2012
So not only has it not reduced after a years worth of payments, but it has increased by £416.
Why would this happen? Considering todays rates I wouldnt have thought that would have caused it?
For the last 4 months, the balance has stayed at £117,770 so am I to assume his ex has had a payment holiday?
£117,354 @ June 2011
£117,770 @ July 2012
So not only has it not reduced after a years worth of payments, but it has increased by £416.
Why would this happen? Considering todays rates I wouldnt have thought that would have caused it?
For the last 4 months, the balance has stayed at £117,770 so am I to assume his ex has had a payment holiday?
0
Comments
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Either that or they've changed the mortgage to interest only, in fact you could be spot on, if a payment holiday was taken then the interest would continue to accrue on the mortgage increasing the amount owed. If its not a payment holiday it could be the mortgage went into arrears at some stage."You've been reading SOS when it's just your clock reading 5:05 "0
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Interest only + insurance - frankly any combination
If he is on mortgage he is entitled to copy statement - get oneHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
xxSaffronxx wrote: ȣ117,354 @ June 2011
£117,770 @ July 2012
On what dates? As timing may well make a difference.
In any event the mortgage appears to be interest only.0
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