NRAM Mortgage balance increasing

scottpharo

We currently have a mortgage with NRAM / Northern Rock since 2003 and we have discovered that our balance is increasing despite being up to date with payments and not missed any. It has increased £600 odd since August 2018. We dug out historic paper work to discover that primary loan, the mortgage, has increased by circa £8k since 2003. According to NRAM it could be that we have not been paying enough although we have always paid out contracted monthly payment. The mortgage is interest only if that has anything to do with it. If it is true that we have not been paying enough what come back do I have on NRAM as surely they are responsible to advise me the correct amount I should be paying ? NRAM are looking into this and are coming back to me. Any help advice etc would be muchly appreciated. Thanks .

TrickyDicky101

How is your monthly mortgage payment taken - is it via direct debit or via standing order?

Have you taken any payment holidays?

dunstonh

Last person that had this with NRAM said they were upto date on payments and had never missed a payment but by around post 8 they added that they had the equivalent of 10 payment holidays.

So, can you confirm you have no payment holidays (aka authorised arrears)?

If it is true that we have not been paying enough what come back do I have on NRAM as surely they are responsible to advise me the correct amount I should be paying ?

If you are paying by standing order, you control the payments. If you are paying by direct debit, they control the payments.

getmore4less

It's been going up since 2003 you have only noticed now!

£600 since Aug 18 is significant shortfall.


Post some details.