How binding is a Mortgage Schedule Letter?

shiney01

Hi
My mortage is with the C&G and is coming to the end of fixed rate period. I have set up a new deal with them, but today received a scheule letter outling my new payments, which are considerably less than advised. Obvioulsy I would like to pay the lesser amount, but where do I stand, is it legally binding?
any advice would be great!

homer_j_3

Are you being asked to sign it to state that you agree to this?

shiney01

no, i had previously signed the agreement and sent this back, whihc had higher payments on...this is a new schedule letter, with lower payments and interest rates on

ALIBOBSY

Is this new deal fixed rate? If not will the payments not have fallen with the recent interest rate falls?
Our mortgage has gone down recently because of this.
ali x

shiney01

no it is not a fixed rate
i think they have made a printing error, as we had a greed a 6.14% tracker and they have now printed it as a 4.45% tracker, which as you can imagine makes quite a saving on monthly payments, hence i would like to know f they have to stick by it

jonesMUFCforever

Why not ask them?
I know what you are trying to say - they have made a mistake - you have found it at the outset- can I get away with it?
My opinion is no.

homer_j_3

You have signed to agree to the higher rate. I would question this but its clealry an administration error and as it is not something you can sign and send back and claim that this is the one you agreed to last then you will be unlikely to get away with it.

Ian_Griffiths_Halifax

That sounds like a ridiculously low rate, even for a rate that cuts out brokers.

There may be a printing error or somebody has typed in the wrong product code, or it may be that you had 2 parts to your previous mortgage with them and part of that still has an old deal attached to it which you are keeping.

If you don't/haven't had 2 parts and it looks like an error to you, while I can see it would be tempting to not say anything, the last thing you would want is for them to come looking for the money back later on.

Give them a call IMO.