Nationwide Mortgage arrears statement?

Ollie7

Help!

I've just got in from work to a Nationwide Mortgage arrears statement, and now it's gone 8pm and I can't call anyone who can help explain what it's all about, and could do with some reassurance as my partner probably won't sleep now!

We pay direct debit on the 25th of each month, never missed a payment since we started in 2011 and enough money in the account to twice cover it just in case.

This letter shows that payments were made in jan & feb as normal but dated 3/3/13 we are 'in arrears' as we haven't paid march (but we won't have done as it won't go until the 25th) and its quite a official letter with a 'problems paying your mortgage' flyer included.

It says we must pay in 7days,

Now, this is the first time we have ever received this letter and nothing has changed, is this a (scary) admin error or something else? I've double checked all the payments went and the statement confirms this.

Why would they be asking for it outside our usual direct debit date?

Please help put minds at rest at least until the morning!

Ollie

Thrugelmir

Did you elect to pay on the 25th of every month?

Ollie7

Yes, that's how it's always been set up from day 1

Nothing has changed in 22 months, but this letter is totally out of the blue!

Thrugelmir

What date did you complete and when did you make your first payment?

Ollie7

It's not a first month interest arrears if that's what your thinking, it's showing a full month as if we haven't paid for march, but we haven't... Because we don't until the 25th of the month.

BEN1987

Ollie7 wrote: »

Help!

I've just got in from work to a Nationwide Mortgage arrears statement, and now it's gone 8pm and I can't call anyone who can help explain what it's all about, and could do with some reassurance as my partner probably won't sleep now!

We pay direct debit on the 25th of each month, never missed a payment since we started in 2011 and enough money in the account to twice cover it just in case.

This letter shows that payments were made in jan & feb as normal but dated 3/3/13 we are 'in arrears' as we haven't paid march (but we won't have done as it won't go until the 25th) and its quite a official letter with a 'problems paying your mortgage' flyer included.

It says we must pay in 7days,

Now, this is the first time we have ever received this letter and nothing has changed, is this a (scary) admin error or something else? I've double checked all the payments went and the statement confirms this.

Why would they be asking for it outside our usual direct debit date?

Please help put minds at rest at least until the morning!

Ollie

Probably too late to catch you before bed (?) and stop you worrying:

I've had this same thing - and then a couple of days later I got another letter saying it had been a mistake and offering apologies, nothing to worry about blah blah blah.

Key thing to remember is to bill them for your time that they have wasted. What's sauce for the goose is sauce for the gander!

p.s. stop paying by direct debit!

Pay in-branch over the counter and get a receipt. If that's not practical then set up an online bill-paying thing. With either of these two methods YOU are in control and you KNOW when it's been paid. And you have proof.

Whereas with direct debits you have NO control. And if there are any hiccups the first you will know about it is AFTER the event - i.e. when the fees & charges will have already begun to rack up.

Thrugelmir

I am wondering if the date of your payment is causing "arrears" to accrue over the time you've had the mortgage. Majority of the time mortgages are paid on the 1st. As daily interest is charged and calculated up to the last day of the previous month.

25th is an odd date to pay. Unless it was pulled forward to make payments earlier.

Just my thoughts for what they are worth.

BEN1987

Thrugelmir wrote: »

What date did you complete and when did you make your first payment?

it's irrelevant.

Obviously make sure you make a payment each calendar month, but pay on whatever day of the month suits you.

They might want you to pay on, say, the 6th or the 1st or whatever, but if you pay it on the 28th (e.g. when your salary hits your bank account) they might squeal & squawk, but ignore them and just pay it when suits you.

Bottom line: what are they gonna do, start the process of repossession? Hardly! You'd submit the evidence (receipts) that you'd made twelve payment in each of the previous 12 months, with an explanation that the payments have been made with due regard to the date the funds have become available (i.e. when your salary hits your bank account).

It'd be thrown out and they'd get a bollocking from the local County Court.

In short: it'd never happen.

So stand firm my friend

michelle2008

Most likely a clerical error. Don't panic by running through every scenario people can think of.

I am sure when you ring in the morning it will all be easily resolved.

Ollie7

Thanks all, I am in bed but still awake- not sure if its related to this or not!

It just seems so strange, if we had missed a payment or changed something like a D/D date then I could understand, but this system has been in place faultlessly for 22 months, then all of a sudden and from what I can see no fault of ours a big scary letter arrives.

It's not so much an issue if it does need paying in 7 days, it's more of a worry as to why and what's changed and is 'being in arrears' going to live on our records despite being fairly financially smart an doing exactly what's required of us!

When you say bill them for time etc if it does turn out to be a error, what's the best way to go about it and in people's experience what is the outcome and or reward for doing so?

Thanks so much, I do feel better for reading your comments!

Thrugelmir

BEN1987 wrote: »

it's irrelevant.

Obviously make sure you make a payment each calendar month, but pay on whatever day of the month suits you.

They might want you to pay on, say, the 6th or the 1st or whatever, but if you pay it on the 28th (e.g. when your salary hits your bank account) they might squeal & squawk, but ignore them and just pay it when suits you.

Bottom line: what are they gonna do, start the process of repossession? Hardly! You'd submit the evidence (receipts) that you'd made twelve payment in each of the previous 12 months, with an explanation that the payments have been made with due regard to the date the funds have become available (i.e. when your salary hits your bank account).

It'd be thrown out and they'd get a bollocking from the local County Court.

In short: it'd never happen.

So stand firm my friend

I'm glad you don't run my finances as the date payment is made will have an impact and over exaggerating the situation does no one any favours. Bound to be an issue that's easily resolved.