mortgage arreas charges

drake_3

hey all i currently have some arreas on my mortgage so contacted them and arrangd to pay 75 pound a month to clear them. but lookin in the small print they charge me 50 pound for every month im in arreas is this fair:mad: so with the 50 pound charges im only really paying 25 pound a month of the arreas so its a vicious circle surley this is not allowed please help me someone {oh yer carnt afford to pay more at the mo b4 anyone suggests that} thanks

dunstonh

they charge me 50 pound for every month im in arreas is this fair:mad:

Someone has to pay for the person that reviews your mortgage every month I'm afraid.

surley this is not allowed

Yes it is.

moneydoesgrowontrees

If you have agreed to pay £75p/m and they have accepted this, they shouldn't charge you. Give them another call and ask them about this. Make sure they have set it on your account as a firm arrangement. If this is done, there shouldn't be any charges if the arrangement is kept, but if broken is usually a higher charge.