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Non-Direct debit administration fees
Eddie_Murphy
Posts: 1 Newbie
Hi all!
My mortgage lender is charging me £15 each time I do not pay my mortgage by direct debit. Can this be right? an if not can I force them to pay it back to me. I certainly was not made aware of the charge when I took out the mortgage and it seems extortionate to me. All advice appreciated.
My mortgage lender is charging me £15 each time I do not pay my mortgage by direct debit. Can this be right? an if not can I force them to pay it back to me. I certainly was not made aware of the charge when I took out the mortgage and it seems extortionate to me. All advice appreciated.
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Comments
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You need to check your mortgage T&C's, to see if this charge is mentioned. If it is not, then complain.
If the charge is genuine, then I can only suggest that you minimise the number of payments you make. Just save up your over-payments into a high interest savings account, and pay into your mortgage, once or twice a year.
HTH.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
Easiest way to save paying the fee is to pay by direct debit.....Number 86 - Stole a car from a one legged woman... I'm just trying to be a better person0
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I certainly was not made aware of the charge when I took out the mortgage
You mean you didnt read the list of charges that they publish. Actually being told how much it costs when a payment is bounced is not a requirement and it would be daft to think it should be. You should find it listed in their charges brochure though.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Why are you not paying it by DD?0
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This sounds more like a missed or late payment fee0
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