mortgage free in 4 years hopefully...

Dobbibill

wow that's a big difference in interest

I'm sure you will get to the bottom of it, that's a massive difference on the overpayments calculator (you expect a small difference when you run the figures through, mine was a difference of 0.10% but not 2%)

Finger's crossed for you (praying you don't come back with bad news!)

DB

Savingdad

Well this is pants, thefotum has changed and I couldnt log in at all so tried to reset my password only to be told my email address isn't in their database so I tried creat8ng a new account expecting to be told the username was taken and low and behold it created the account ,I have lost all my posts, all my subscriptions and been reborn as a newbie.
Not impressed at all.....

Savingdad

Ok so ran my morgage figures through 4 more loan repayment calculators and all came up the same, it seems I am being charged 4.6% not 2.5% .
Its a monthly difference of £50 but as I overpay by £350 a month, or 390 accordimg to the new figures I hadn't noticed, poor of me I know but there you go.
Called my provider and it has been passed to the back office team to recalculate my account and they will write to me in 10 working days so something to look forward to.
Hopefully there will be a nice extra wedge to come off the account and maybe some compensation but as I'm obviously overpaying there for the error hasn't caused me to much financial hardship I'm not expecting much and probably wouldn't push for more than a good will gesture.

Dobbibill

I don't think it conflicted with your old username because of the capital letter at the beginning so as it's case sensitive, it's essentially another username. It may be worth contacting the MSE forum team to see if they can resolve this for you. Would be a shame to lose all your subscriptions and threads.

Finger's crossed for a good outcome for you when mortgage write back to you. At least you noticed it now rather than in another 6 months (really trying to find a positive for you here)

Savingdad

I thought it may be because of the auto capital that appeared in my username but that didn't explain why when I asked for a password reminder it said my email address wasnt in the data base.
Such is life and I can find my posts and subscriptions by searching my old user name and re subscribing to the ones I want I guess.
As for the situation, its all positive, I have been overpaying for years and if they come back the amount is right ( I can't see how it can be) so be it and if its wrong there should be a wedge to come off.

Savingdad

Well that was a mundane explanation.
My monthly payments were set at the first payment on my original capital and would of paid off the mortgage over the term however my over payments have reduced the outstanding capital but I have neither shortened the term or reduced the monthly payments until they did the account review.
My new monthly minimum payment is £312 down from the £362 it was but I have kept my repayments at £700 to bring down the balance even faster I hope.
No mistakes, no refunds and no chunks off the mortgage but it does give me more breathing space should I ever need to reduce my over payments.