Mortgage provider phones every month

[PlanB]

Re: Mortgage provider phones every month

Just received a statement and it goes like this Plan B

27/11/2014 card payment £476.66 arrears £0.00
01/1201014expected payment £430.29 arrears £430.29
29/12/2014 card payment £430.29 arrears £0.00
01/01/2015 expected payment £429.96 arrears £429.96

31/01/2015 card payment £20.00 arrears £409.96 (this £20 payment was because their online system was paying up which they admitted it was and they compensated us with £25 , but we had to claim the payment back which was stuck in their system because of their fault and then make another payment )
01/02/2015 expected payment £429.96 arrears £839.92
02/02/2015 expected payment £410.00 arrears £429.96
28/02/2014card payment £429.92 arrears £0.00
01/03/2015 expected payment £429.96 arrears £431.55
31/03/2015 card payment £431.55 arrears £0.00
01/04/2015 expected payment £431.55 arrears £431.55
30/04/2015 card payment £431.55 arrears £0.00
01/05/2015expected payment £431.55 arrears £431.55
30/05/2015 card payment £431.55 arrears £0.00
01/06/2015 expected payment £431.55 arrears £431.55




Just want to correct my mistake in my original rant , I said it they were adding £1.88 but it is in fact £1.59 still i would like to know why and i would like to know if this tiny extra each month is extra interest or whether it is coming off the capital .

thank PlanB x

Looking at that statement it seems I was right. It's because you're paying almost a month late so your account will show in arrears between the payment due date and the payment received date.

I see you're paying by card and not DD as per your Ts & Cs. Some lenders charge a card processing payment too.

I see the payment amount went up in March. Your mortgage is a Libor tracker (isn't it?). This means that the lender will adjust the interest rate on your mortgage quarterly. Last March 1st Libor went up. As it did again on June 1st.

Why not ring them and ask them straight up what the £1.59p is for?

[SXGuy]

Re: Mortgage provider phones every month

Because you pay at the end of the month it's triggering an arrears for 2 weeks then when you pay it clears it. That's likely to be why you are getting charged extra. It's the interest I'd guess. When most people arrange to move the date of payment forward the lender usually adds extra few weeks interest on to the end of the term. It doesn't look like this has happend here. It looks like they have accepted you can't pay till end of month but haven't agreed an extension on payment date. The only way you can fix this is to pay 1 month upfront. That way you'd always be in credit everytime you pay at the end of the month

[Spent2much]

Re: Mortgage provider phones every month

Just received a statement and it goes like this Plan B

27/11/2014 card payment £476.66 arrears £0.00
01/1201014expected payment £430.29 arrears £430.29
29/12/2014 card payment £430.29 arrears £0.00
01/01/2015 expected payment £429.96 arrears £429.96

31/01/2015 card payment £20.00 arrears £409.96 (this £20 payment was because their online system was paying up which they admitted it was and they compensated us with £25 , but we had to claim the payment back which was stuck in their system because of their fault and then make another payment )
01/02/2015 expected payment £429.96 arrears £839.92
02/02/2015 expected payment £410.00 arrears £429.96
28/02/2014card payment £429.92 arrears £0.00
01/03/2015 expected payment £429.96 arrears £431.55
31/03/2015 card payment £431.55 arrears £0.00
01/04/2015 expected payment £431.55 arrears £431.55
30/04/2015 card payment £431.55 arrears £0.00
01/05/2015expected payment £431.55 arrears £431.55
30/05/2015 card payment £431.55 arrears £0.00
01/06/2015 expected payment £431.55 arrears £431.55




Just want to correct my mistake in my original rant , I said it they were adding £1.88 but it is in fact £1.59 still i would like to know why and i would like to know if this tiny extra each month is extra interest or whether it is coming off the capital .

thank PlanB x

[Spent2much]

Re: Mortgage provider phones every month

Maybe that was a concession to suit your cash-flow when times were hard?

What does it say in your mortgage Ts & Cs because that's the bottom line.

Plan B x

I can't find them been looking all over i have found everything but x:

[PlanB]

Re: Mortgage provider phones every month

They set the date for the last day in the month to pay it wasn't us so i don't get what they are on about

Maybe that was a concession to suit your cash-flow when times were hard?

What does it say in your mortgage Ts & Cs because that's the bottom line.

Plan B x

[Spent2much]

Re: Mortgage provider phones every month

It looks pretty straightforward to me on face value.

Your contractual mortgage payment is due at the beginning of the month. If you don't pay it until the end of the month your account will be in arrears for around 30 days.

This may trigger an extra charge of £1.80 interest.

I would say the only cure to stop the menacing phone calls would be for you to make your mortgage payments on time, although I accept that may not be practical.

I'll wait to see what the statement says before I'll jump to any conclusions though.

Plan B x

They set the date for the last day in the month to pay it wasn't us so i don't get what they are on about

[PlanB]

Re: Mortgage provider phones every month

I wrote a letter asking what the extra £1.80 was for a month and why they consider us in arrears still , this is the reply i received . .

The current arrears on your account are . . . . Please be advised that we note that you make payments on the last working day of every month , therefore your account shows in arrears for a full month.

I have requested an arrears statement to be sent to you under separate cover

It looks pretty straightforward to me on face value.

Your contractual mortgage payment is due at the beginning of the month. If you don't pay it until the end of the month your account will be in arrears for around 30 days.

This may trigger an extra charge of £1.80 interest.

I would say the only cure to stop the menacing phone calls would be for you to make your mortgage payments on time, although I accept that may not be practical.

I'll wait to see what the statement says before I'll jump to any conclusions though.

Plan B x

[Spent2much]

Re: Mortgage provider phones every month

No problem

[SA Gold]

Re: Mortgage provider phones every month

Debit card payments are now immediate to the receiving bank, within 2 hours. There is not an overnight delay unless you are paying through an intermediary bank or department.

Is this the case for every debit transaction? Out of curiosity, what is the banking process? Reason i ask, is some people tend to take the money straight away (like retailers) and others (like Cap1) take forever. For example, the other day i made a payment to Cap1 via debit card to top up the dd that goes out in accordance with AAD credit building protocol and shortly after lloyds show a transaction pending. It was about 3,4 days after this that it was shown on my Cap1 balance.
Is the hold up Lloyds, or Cap1 in this case?

S2M - sorry for the hi-jack of your thread mate

[Spent2much]

Re: Mortgage provider phones every month

I wrote a letter asking what the extra £1.80 was for a month and why they consider us in arrears still , this is the reply i received this morning .

The current arrears on your account are £431.55 as at 17th June 2015.
Please be advised that we note that you make payments on the last working day of every month , therefore your account shows in arrears for a full month.

I have requested an arrears statement to be sent to you under separate cover.


I enclose a personal budget questionnaire for you to complete and return to ourselves to us an overview of your financial situation and we can make a mutually acceptable arrangement to clear your arrears.
what are they on about here and no mention of the added £1.80 or the menacing phone calls and payment reminders each month .

Maybe PlanB knows xx

[Spent2much]

Re: Mortgage provider phones every month

That's not on!

Tell them to purge your husband's work phone number from their records with immediate effect.

Also tell them everything in writing from now on.

Have you asked them what the extra £1.89 per month is for yet?

Maybe it's to cover the cost of these relentless phone calls

Plan B x

ha ha could be , I will get hubby to write to them they also send a reminder each month through the post too , saying we are in arrears until we pay this months payment and that as we don't pay by direct debit will be we making a payment on the last day of the month . Just the same every month what a waste of paper. We have paid on time every month in fact i paid it a day early last time 30th May so not sure what they are fretting about .

They have my hubby's mobile phone number and they call him on that , its still distrupting his working day though and if he gets a customer they have to wait while Kensington have stopped boring him .

Will get a letter written out and ask them what the extra is for and also if they would stop sending reminders and phoning hubby each month lol

[PlanB]

Re: Mortgage provider phones every month

They called my husband at work yesterday to ask if we would be paying this month , we haven't missed payment that's what annoys i just don't know why they need reassuring it gets me mad .

That's not on!

Tell them to purge your husband's work phone number from their records with immediate effect.

Also tell them everything in writing from now on.

Have you asked them what the extra £1.89 per month is for yet?

Maybe it's to cover the cost of these relentless phone calls

Plan B x

[Spent2much]

Re: Mortgage provider phones every month

They called my husband at work yesterday to ask if we would be paying this month , we haven't missed payment that's what annoys i just don't know why they need reassuring it gets me mad .

[Spent2much]

Re: Mortgage provider phones every month

No need to apologise. I'm sure you'll give me a shout if things turn ugly with Kensington Mortgages.

Plan B x

i will indeed xx

[PlanB]

Re: Mortgage provider phones every month

I have only just seen this reply sorry about that planB, yeah we will write to them and ask

No need to apologise. I'm sure you'll give me a shout if things turn ugly with Kensington Mortgages.

Plan B x