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Mortgage calculation help
mattygg
Posts: 7 Forumite
Hi all,
I have a quick question for all of you. I had been with Northern Rock for the last two years and i'm changing my mortgage on 1st October this year to a different company. I have received my final statement from Northern Rock (with the final balance shown) and it is higher than what i borrowed. I was just wondering whether this is normal, due to paying interest first etc or whether this is wrong. If it is wrong can the company recalculate this or would i have to wait months for the error to be found.
Cheers
Matt
I have a quick question for all of you. I had been with Northern Rock for the last two years and i'm changing my mortgage on 1st October this year to a different company. I have received my final statement from Northern Rock (with the final balance shown) and it is higher than what i borrowed. I was just wondering whether this is normal, due to paying interest first etc or whether this is wrong. If it is wrong can the company recalculate this or would i have to wait months for the error to be found.
Cheers
Matt
0
Comments
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Dis you add any large arrangement fees etc onto the mortgage amount?
Is the mortgage an interest only one?
What does your original offer letter say?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
If you were on a special deal, there might be charges to finish that early too.
Or just charges to close the account.0 -
If you have only been with them for 2 years and it is your first mortgage then most of the monies that you pay will be interest. They also charge you if you are on a deal and you want to finish it early.cross stitch cafe #90 UFO's 6 to finish in 2013, and loads of new kits to boot
Refunded bank overdraft charges £915 :jSPC 2007-2008 #078 aim £500-£341.67
SPC 2011-2012 #078 aim £500-£426.42
SPC 2012-2013 #078aim £500 - TBC
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