Lloyds / C&G being sneeky with mortgage payments

Notrix

My mortgage is with Cheltenham & Gloucester, and it shows on my on-line banking with Lloyd's as they are co-owned.

Over the past 3-4 months I have noticed that whilst my monthly mortgage payment leave my Lloyd's account on the 1st of each month, the balance on my C&G mortgage does not get reduced until at least the 5th of the month.

Is this right? does that mean that each month I am paying interest on the higher amount for an extra 5 days, an furthermore are Lloyd making interest on MY money for 5 days whilst it floats about within the banking system?

It always used to be the same day, left the account and the balance was reduced the same day, is this just another sneaky way for them to get more money from me!

dunstonh

My C&G mortgage went to TSB. My bank account stayed at Lloyds. My mortgage statements used to show 1st monthly but that was when C&G and Lloyds were part of the same group. Now that my mortgage is with TSB, I would not be surprised that the direct debit takes longer as it is leaving the group and going through the clearing cycle. Although I can no longer view mine online thanks to the messy split up.

It should be noted that January, February and March all fell over weekends or bank holidays. So, if you apply the usual direct debit wait you would expect to see January hit on the 6th and Feb & march on the 5th.

Notrix

That could be it, although my bank stayed as part if Lloyds, just been told in branch that the Vantage account is stopping soon too, so going to have to figure out this new 'club Lloyds' account now! Its all changes!