Strange "Advance" Figure on NRAM Mortgage Statement

mrsvanderkamp_2

Hi,

I'm not sure if this is posted in the right place or whether I should go over to the DFW board so feel free to redirect/move me

I am thinking of selling a house that is currently rented out and I was today looking at old mortgage statements. I was (am) aware that I owe a little more than I borrowed but I didn't think too much of this as I had built up some arrears on the account and I couldn't in fact remember the exact amount I borrowed to begin with. However I had sat down today to look at this and the current balance is some £11,000 more than I originally borrowed :eek: (interest only mortgage). Although there have been some arrears in the past I have often come to an arrangement with NR to repay these over a period of months (typically paying £200 more than the monthly payment to reduce these). I know that some arrears were capitalised but not £11,000 worth!!

So anyway, I've dug out some old statements and I'm missing one but in October 2006 the closing balance was £102,242.06. In my statement dated 24 January 2007, there is no "opening balance" as per the October statement, and instead it says "Advance" £107,583 and then underneath that "Product Fee" £1,613. Now this sounds like a further advance except that I have never taken one! I know I'm an idiot but I never noticed this on this statement before.

The mortgage was originally on a fixed rate which ended on 1 August 2006 and then reverted to standard variable rate.

As I say I have never remortgaged or asked for a further advance or even asked to go on a new fixed rate, it just rolled onto the SVR.

I will be ringing NR tomorrow but has this happened to anyone else?? I know NR have been hauled over the coals for some incorrect statements but I thought that only applied to unsecured loans? Certainly I've not been written to as I know lots of people have been..

Any thoughts/ideas would be gratefully received.

TIA