SPML/Acenden mortgage customers

glynb

Hi, Just wondering if anyone has had their payments hiked up this month by Acenden?

They have sent me a letter saying the base rate has changed so it's an extra £80 a month. I wasn't aware the base rate had gone up?

This comes after I'd made a complaint regarding them loosing my proof that I had renewed my buildings insurance (this seems to be a yearly event with this outfit).

It's funny how the interest rate change is nearly the same as what they wanted to charge me per month for their insurance ??

AnotherJoe

Have you written to them stating they have made an administrative error, because since the base rate hasn't gone up therefore your mortgage should not either.
This assumes its a tracker and they link it.

Thrugelmir

glynb wrote: »

They have sent me a letter saying the base rate has changed so it's an extra £80 a month. I wasn't aware the base rate had gone up?

If you are on the lenders standard variable rate. Then it can be changed at any time. Lenders react to the cost of the money in the markets rather than the BOE base rate. They'll simply be passing on any additional costs incurred in funding your mortgage.