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Mortgage Product Fee ! Need Advice
kev200871
Posts: 1 Newbie
I have just recieved a letter from my mortgage company stating that when i took out my mortgage 20 months ago ,the mortgage product fee was never debited out of my account for which THEY apolagise now they are saying in order to correct this oversight they now want me to pay £976 within 14 days or this amount will be added to my mortgage balance! Can anyone advise me if the bank are well in there rights to do this or do i have a case to have this amount anulled?? seein as this was not my mistake? all advice will be greatly appreciated kev
0
Comments
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Yes they are entitled to chase payment as it was a charge that was meant to be levied. One assumes that you knew they never took it as £976 is not a small amount. However, you can ask them to debit it over a period of 12 months (which would be better than adding it to mortgage and paying interest on it for the next 25 years or so.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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