Companies who do tracker mortgage audits
- Thread starter Browner
- Start date
My mortgage was with bank of Scotland, fell into arrears. Movers to Tanager and had a really bad time with them. The arrears apparently were calculated in correctly and I was told they were getting reduced by €10k. Pepper took over the mortgage and own it now and I have finished paying off the arrears.
Did bank of Scotland inflate the arrears as well?
I would like to get my mortgage audited to see is the remaining balance now correct.
Hope this explains it better.
Did bank of Scotland inflate the arrears as well?
I would like to get my mortgage audited to see is the remaining balance now correct.
Hope this explains it better.
Brendan Burgess
Founder
- Messages
- 52,171
Hi Browner
A lot of people find this difficult to understand.
The arrears figure is a notional figure. It is separate from the balance on your account.
BoSI and Tanager calculated the arrears incorrectly but they calculated the balance and the interest correctly.
So, the balance is correct, whether the arrears were calculated correctly or not.
It's fairly easy to check you own mortgage balance and you don't need to pay big fees to a specialist to do it.
I have set it out here
Brendan
A lot of people find this difficult to understand.
The arrears figure is a notional figure. It is separate from the balance on your account.
BoSI and Tanager calculated the arrears incorrectly but they calculated the balance and the interest correctly.
So, the balance is correct, whether the arrears were calculated correctly or not.
It's fairly easy to check you own mortgage balance and you don't need to pay big fees to a specialist to do it.
I have set it out here
Key Post - How to check your mortgage statement
This has come up a few times, so I will try to explain it. First the very basics on a simple mortgage with no arrears, TRS or any other complications.
www.askaboutmoney.com
Brendan
Jim Stafford
Registered User
- Messages
- 631
As Brendan suggests, you should not need a specialist to check a home mortgage statement.
For complex commercial/BTL loans, I can highly recommend http://www.bankcheck.co.uk/default.asp They are based in Belfast and have a database of most of the interest rates that were applicable on the various loans issued by the main banks.
Jim Stafford
For complex commercial/BTL loans, I can highly recommend http://www.bankcheck.co.uk/default.asp They are based in Belfast and have a database of most of the interest rates that were applicable on the various loans issued by the main banks.
Jim Stafford