First Direct miscalcution of payments

Oldsoldierboy

Went to re-mortgage with 1st Direct on a reduced interest rate (was 2.99% now 2.19%) only to find my monthly repayments have gone up. After weeks of investigation it turns out I've been paying the wrong amount (Only a few £'s over per month) for over 2 years due to their software problems. I've been offered £100 compensation and the over payments returned - should I accept this or am I entitled to more??

Thrugelmir

Entitled to more for what?

marathonic

The overpayments would also have reduced the interest paid over the 2-year period so you're really getting more than £100 out of the deal.

Why not tell them to keep the overpayments against the mortgage, reducing future repayments even further?

Oldsoldierboy

thanks I'll do that

Landofwood

Entitled has become such a nasty word