Mortgage Arrears - Charges

pad1

Unfortunately we are just over one month behind with our mortgage repayment, I wrote to the Building Society asking if we could pay £50 per month on top of the repayment which we have done for the past three months. Our mortgage lender is charging us £35 per month to monitor our account. At this rate we will never pay off the arrears is this right?

never_too_late_2

Sorry pad1 - i don't think i quite understand you. How much is your monthly mortgage payment and how much do you owe the company?

I'm obviously being a bit dim but this will give your post a bump if nowt else!

Cheers,
ntl
-x-

kylie1dw

Just as a point of note, if you can get your arrears down to just below a month (even 1p) you should no longer be charged for arrears. My mortgage company volunteered this info to me when I was having probs paying.

Apparently as long as you dont owe a full months mortgage payment they cant put a default notice on your record .

Broken_hearted

Claim them back as they are just another bank charge.

pad1

Thank you very much, some very helpful information our monthly mortgage is £960 (jumped up £300 when the fix rate ended) we are currently paying £1,010 - £50 over to try and reduce the arrears of £1,300.

I am going to write and ask for the charges back and also try and reduce the arrears to under £960. Thank you again for the advice.