Mortgage balance gone up by £200?

sixgeese

I have a mortgage with Natwest, and recently set up a regaular overpayment a couple of months back. I logged in this evening to check that this was being applied, and was a little shocked to see that the balance had mysteriously increased by £200. I double checked this with my Experian account, which shows the lower figure I was expecting to see.

Any idea what's going on? I obviously can't call them on a Saturday night #rockandroll

Another things that's bugging me here is that the monthly payment is still showing as the old, pre-overpayment amount despite me ringing Natwest at least 2 weeks ago to ask why this had not been updated. They told me it should definitely be showing the new amount, and that it was showing up fine on their system. Is this a common problem?

Not great to be given such shoddy information on the biggest expenditure we're ever likely to have :mad:

ACG

Interest is presumably charged daily?
So the balance will be more tomorrow than it is today and then more the following day and so on and so on until your payment goes out. So you will probably not notice the difference until your next payment goes through.

With regards to the overpayment, if they have confirmed it is showing the higher amount their end, I would just trust them. Having worked for Natwest/RBS I can confirm their IT system is older than me (Im 31) and so they have probably amended it as per your instructions but it may not show on your side until it updates with the first payment?

You have asked for it to be done and you have been advised by someone else it has been done? Its unlikely 2 people would get it wrong.

POPPYOSCAR

You are not alone.


I have had to argue with someone at our lender when they said our payments were correct and demand to speak to someone higher up.


They then said it would be refunded within 3 days back to the bank account and it took 4 weeks!.


Not the first mistake they had made either.


Seems to be the norm these days.

sixgeese

Thanks Poppy, good to get a reply from an expert

I wondered if this was the case, but perhaps naively didn't think it would make a difference as big as £200. Thinking about it now though, that's entirely possible.

Thrugelmir

sixgeese wrote: »

I double checked this with my Experian account, which shows the lower figure I was expecting to see.

Experian only reports information provided by the lender. Your account statement shows the true balance.