Woolwich tracker not tracking!?

woolwich

Hi,

About 6 months ago I moved our mortgage to a woolwich tracker mortgage, i think (bbr + 0.14). Anyway since then we have had about 3 rises in the bbr but our repayments have not increased. Now obviously i don't want to walk into the bank and say, should i be paying more? but just wanted to know if this is usual and if our rate will catch up at sometime or do you think this might be a clerical error?

Any advice or experience much appreciated.

Thanks

D

Hurdler

Sounds like it could be a clerical error... I have a Tracker with Barclays and it jumps about accordingly.

I do know that since Barclays/Woolwich became consolidated, they have had a huge backlog and still appear to do so as it took them a while to scrub out one of my repaid tracker sub-accounts, but they do seem to be keeping their word about backdating any payments.

Jonbvn

woolwich wrote: »

Hi,

About 6 months ago I moved our mortgage to a woolwich tracker mortgage, i think (bbr + 0.14). Anyway since then we have had about 3 rises in the bbr but our repayments have not increased. Now obviously i don't want to walk into the bank and say, should i be paying more? but just wanted to know if this is usual and if our rate will catch up at sometime or do you think this might be a clerical error?

Any advice or experience much appreciated.

Thanks

D

Personally, I would contact them ASAP regarding this issue. If you do not, you could find a large sum added to your mortgage for back-dated interest.

woolwich

Hi Jonbvn

Thanks for the advice.

Can they back date the interest?

Think i will have to own up as i don't want a massive bill at a later date, unless the rates start to come down!

D

epz_2

wouldnt put it past the bank just to empty your bank without telling you then hit you with overdraft charges, they are a bank, they have smallprint for everything.

cattie

I have a Halifax tracker mortgage & for each of the 3 recent rate rises I've had a letter saying my monthly payment didn't need to be increased.

I do overpay each month anyway, so know I never have to bother about rate increases, but the letter states the payment as the basic monthly one I need to pay & not my increased monthly payments.