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mortgage rate advice please

michaelajh
michaelajh Posts: 6 Forumite
in Mortgages & endowments
hi im a newbie here and have a question about my mortgage rate

i have been sent a few letters stating my rate and i am sure they said roughly 7.2% i know this is high but i have just got on and payed them i have now noticed that what i have been paying on a 68000 mortgage is 576 now i work that out to be 9+% would i be right or is what i am paying the correct amount???

if its wrong then can i claim this back from the mortgage company as they are ready to take my house due to arrears

Comments

  • michaelajh
    michaelajh Posts: 6 Forumite
    is there anyone here who can help me?
  • toonfish
    toonfish Posts: 1,260 Forumite
    do you have a repayment mortgage? The payments will also be higher if they are reclaiming the arrears
    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.



  • michaelajh
    michaelajh Posts: 6 Forumite
    yes i have a repayment but with the arrears i am paying another 125 ontop of that i cant remember if i took a 25 year or 23 year mortgage but if it was a 23 year then it works out at 8.8%
  • michaelajh
    michaelajh Posts: 6 Forumite
    so what can i do as i am sure they are over charging me
  • ---lee---
    ---lee--- Posts: 921 Forumite
    Why not contact your mortgage provider and ask them to breakdown your payments so that you can see exactly what you are paying for and request a statement of your account to date.
  • michaelajh
    michaelajh Posts: 6 Forumite
    ---lee--- wrote: »
    Why not contact your mortgage provider and ask them to breakdown your payments so that you can see exactly what you are paying for and request a statement of your account to date.



    i will do but i want all the ammo i can get before i talk to them as i say i have done numerous mortgage calculators and they all come back roughly the same at over £100 less than i am paying
  • michaelajh
    michaelajh Posts: 6 Forumite
    so does it look like i am paying too much???
This discussion has been closed.
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