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Nationwide Building Society transferred mortgage

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KathrynS
KathrynS Posts: 7 Forumite
in Mortgages & endowments
Hi, 11 years ago we took out a mortgage with Cheshire Building Society on a fixed rate, full term repayment deal. Cheshire BS has now been taken over by Nationwide BS and all went smoothly - a few things such as moving the mortgage statement date have changed but other than that, all was the same.
Last week we received a letter saying they were increasing our payment (something we don't agree with due to the fixed rate full term deal we are on) because they claim it has come to light that when the calculations were made for our payment 11 years ago by Cheshire BS, they were done incorrectly and that we will have a shortfall at the end of the mortgage term.
Has anyone else experienced this? Is there anything we can do?
We have spoken to Nationwide but they weren't very helpful other than to explain that there will be a shortfall.
Thanks

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