We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Mortgage Express buy to let added interest at end of mortgage

Nippychick
Posts: 1 Newbie
I am coming to the end of the term of my buy to let mortgage. Having asked for a redemption statement, a further £372 has been added which mortgage express says is for a payment in june 2005 when they decided to change the way the mortgage interest is collected to comply with industry regulation. This has never shown on the closing balance when I received my statement each year. I have queried this and asked if they told me about it at the time. They have replied that at the time they took a business decision not to inform customers but as they didn't think it fair to charge 2 amounts in one month they set the amount aside until the end of the mortgage term. This has come as a surprise. Can they do this? I know I can complain to them but if this is not resolved is there another body I can complain to. Thanks
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 349.6K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 452.9K Spending & Discounts
- 242.5K Work, Benefits & Business
- 619.3K Mortgages, Homes & Bills
- 176.3K Life & Family
- 255.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards