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    • ER2
    • By ER2 8th Apr 18, 4:44 PM
    • 4Posts
    • 2Thanks
    ER2
    End of fixed rate - guess the new payment?
    • #1
    • 8th Apr 18, 4:44 PM
    End of fixed rate - guess the new payment? 8th Apr 18 at 4:44 PM
    Hello, I am looking for some advice.

    My fixed rate mortgage came to an end and I received a letter with an indication of what the new interest rate would be. But, I was not told how much I should pay. Due to a previous error, I cancelled the direct debit and instead called monthly to make a manual payment and apparently this means that the lender does not need to inform me. When I called up to pay, I used the automated service and paid the amount it said I needed to pay and then received a 'you are in arrears' letter.

    Is the lender obliged to tell me the new payment, or am I meant to work the calculation out myself from the interest rate? I ask, because according to the lender and the Financial Ombudsmen Service - I am the one at fault.

    I look forward to hearing your comments.
Page 1
    • Thrugelmir
    • By Thrugelmir 8th Apr 18, 4:55 PM
    • 58,454 Posts
    • 51,834 Thanks
    Thrugelmir
    • #2
    • 8th Apr 18, 4:55 PM
    • #2
    • 8th Apr 18, 4:55 PM
    When I called up to pay, I used the automated service and paid the amount it said I needed to pay and then received a 'you are in arrears' letter.
    Originally posted by ER2
    Sounds as if you missed the payment due date rather than paying the wrong amount.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • POPPYOSCAR
    • By POPPYOSCAR 8th Apr 18, 5:01 PM
    • 10,972 Posts
    • 23,598 Thanks
    POPPYOSCAR
    • #3
    • 8th Apr 18, 5:01 PM
    • #3
    • 8th Apr 18, 5:01 PM
    Our fixed rate ended 31st March.

    I have not received any correspondence at all so have no idea what the new payment will be.

    I rang up last week about this but have still not received anything.
    • ER2
    • By ER2 9th Apr 18, 7:09 PM
    • 4 Posts
    • 2 Thanks
    ER2
    • #4
    • 9th Apr 18, 7:09 PM
    Thanks
    • #4
    • 9th Apr 18, 7:09 PM
    Thanks for your response. No, I made a payment before the due date but because I paid the amount requested by the automated service which had not been undated and therefore was still the fixed rate, I did not pay enough. I was not told what the new payment amount due was and fell into arrears on this additional amount.
    • ER2
    • By ER2 9th Apr 18, 7:10 PM
    • 4 Posts
    • 2 Thanks
    ER2
    • #5
    • 9th Apr 18, 7:10 PM
    Thanks
    • #5
    • 9th Apr 18, 7:10 PM
    Our fixed rate ended 31st March.

    I have not received any correspondence at all so have no idea what the new payment will be.

    I rang up last week about this but have still not received anything.
    Originally posted by POPPYOSCAR
    So, you are in a similar position to me. I would have thought a better customer service would be offered.
    • AnotherJoe
    • By AnotherJoe 9th Apr 18, 7:11 PM
    • 9,388 Posts
    • 10,367 Thanks
    AnotherJoe
    • #6
    • 9th Apr 18, 7:11 PM
    • #6
    • 9th Apr 18, 7:11 PM
    name and shame

    and post on their twitter feed.
    • ER2
    • By ER2 9th Apr 18, 7:11 PM
    • 4 Posts
    • 2 Thanks
    ER2
    • #7
    • 9th Apr 18, 7:11 PM
    Thanks
    • #7
    • 9th Apr 18, 7:11 PM
    Sounds as if you missed the payment due date rather than paying the wrong amount.
    Originally posted by Thrugelmir
    Thanks for your response. No, I made a payment before the due date but because I paid the amount requested by the automated service which had not been undated and therefore was still the fixed rate, I did not pay enough. I was not told what the new payment amount due was and fell into arrears on this additional amount.
    • POPPYOSCAR
    • By POPPYOSCAR 9th Apr 18, 7:15 PM
    • 10,972 Posts
    • 23,598 Thanks
    POPPYOSCAR
    • #8
    • 9th Apr 18, 7:15 PM
    • #8
    • 9th Apr 18, 7:15 PM
    So, you are in a similar position to me. I would have thought a better customer service would be offered.
    Originally posted by ER2
    Yes I spent over 40 minutes on the phone today being passed to other departments and holding on. Spoke to three different people and had to explain again every time.


    Gave up in the end , went online and put in a complaint.
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