fixed rate monthly mortgage payment has increased

sitesafe

I noticed this month that my fixed rate mortgage payment has increased by £19.44. I've got 18 months to go until my five year fix ends. I made a 10% overpayment last year which was the max allowed and was told that I wouldn't be penalised for this as it would not incur an ERC. I just thought it odd that this month's payment has increased. I guess I may have received a letter through the post explaining this but as I work away from home I can't get access this so thought I would post on here first just to see if anyone else has had the same experience. SORRY FOR LACK OF PARAGRAPHS BUT RETURN KEY DOESN'T SEEM TO BE WORKING.

anselld

Are you working elsewhere permanently? So, has the house been let?

kingstreet

Does the payment vary from month to month?

For example, when there are more/few days in the month for which you're making payment?

sitesafe

anselld wrote: »

Are you working elsewhere permanently? So, has the house been let?

Hi, thank you. I do work away but not permanently, I purposefully have 'lodgers' rather than tenants although I did purchase consent to let a few years ago I was put off the idea of going through with it after reading all the horror stories on here and other places, that landlords have to deal with!


Problem now solved thank goodness....

sitesafe

kingstreet wrote: »

Does the payment vary from month to month?

For example, when there are more/few days in the month for which you're making payment?

Hi thank you Kingstreet,


No payments have always stayed the same but I've identified the issue. Had a sleepless night thinking maybe because I'd made the payment at the end of the year that there was some glitch that resulted in it not going into the payees account until New Year and that I'd been charged an ERC as it would have gone over the new year's max payment etc etc


What happened was, that when I made the payment it was £20 short of reducing the term by a whole month so they adjusted the direct debit so to allow for this. Following payments have increased only slightly for the duration of the fixed rate term (pennies rather than pounds). They then gave me the option of not reducing by the whole month over the phone.


I asked if I've been charged any 'admin fees' for this or penalised in any way and Santander (!) said 'no'....