We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

buy to let mortgage

For the last 20 or so years I have had a interest only buy to let mortgage. I have always paid the exact amount that the lender requested. However the amount I borrowed has now increased  buy an extra  9 thousand pounds. How can this be right?

Comments

  • housebuyer143
    housebuyer143 Posts: 4,299 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    hank1929 said:
    For the last 20 or so years I have had a interest only buy to let mortgage. I have always paid the exact amount that the lender requested. However the amount I borrowed has now increased  buy an extra  9 thousand pounds. How can this be right?
    Have you been switching products and they had a fee?
  • Hoenir
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    You've been receiving annual mortgage statements. What's changed?
  • Typhoon2000
    Typhoon2000 Posts: 1,184 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Are you on a standard variable rate? If you fixed your rate there would have been fees to pay which would have been added to your mortgage.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.2K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.3K Spending & Discounts
  • 247.2K Work, Benefits & Business
  • 603.8K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.