We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Birmingham Midshires end
Pree1340
Posts: 3 Newbie
Hi I need some advice.
I have had a mortgage with Birmingham Midshires for 21 years. It ends 14th July 2016.
I had a letter to say thank you for my custom. To ensure it will be fully complete by that date payments must increase to 343 ( an extra 500 plus a year) there will be a shortfall.
I wrote to query and asked what the shortfall was and how much.
Whilst waiting a reply I had my statement saying it completes 14 July 2016. Current balance is £3886. If I wish to pay off and close the account a payment of £3989 will fully close the account.
Two days later I have received a letter saying the new payments of 343 must go ahead, but this will still not cover the full amount and there will still be a shortfall.
No one seems to want to tell my why or what it is or the amount of the shortfall.
The mortgage is a REPAYMENT type not endowment.
Any ideas advice ?
I have again sent a letter stating what was said in statement, is my statement wrong. What is the shortfall ?
Pete
I have had a mortgage with Birmingham Midshires for 21 years. It ends 14th July 2016.
I had a letter to say thank you for my custom. To ensure it will be fully complete by that date payments must increase to 343 ( an extra 500 plus a year) there will be a shortfall.
I wrote to query and asked what the shortfall was and how much.
Whilst waiting a reply I had my statement saying it completes 14 July 2016. Current balance is £3886. If I wish to pay off and close the account a payment of £3989 will fully close the account.
Two days later I have received a letter saying the new payments of 343 must go ahead, but this will still not cover the full amount and there will still be a shortfall.
No one seems to want to tell my why or what it is or the amount of the shortfall.
The mortgage is a REPAYMENT type not endowment.
Any ideas advice ?
I have again sent a letter stating what was said in statement, is my statement wrong. What is the shortfall ?
Pete
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards