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Mortgage Renewal Charge Problem

Discussion in 'General Discussion' started by SpeedFreak, 7 Oct 2009.

  1. SpeedFreak


    Joined: 14 Nov 2002

    Posts: 6,984

    Location: Bristol


    we have just renewed our fixed mortgage deal with Abbey. Our original started on 17th August 2007 and was a 24 month fix. Our first repayment was on the 4th October 2007 and including that payment and all subsequent ones to the 4th of Sept 09 I make that 24 payments across 24 months. Our new deal is much cheaper than the old one and on all of the paperwork I have signed it states that our old deal expired on 3rd Oct 2009 and the new deal at the new rate would then come into effect with 24 payments at the new rate.

    The issue I have is that I have received my payment schedule and it does not match the agreed repayments (4.24% not 3.89%) and their first payment amount is my old repayment amount from my previous deal. Does this sound correct to anyone?

    I'll be calling them tomorrow, but a trawl of google hasn't given me much info.