# Who can review my annual mortgage statements?



## happyhippy (19 Apr 2020)

I recently queried the amount of capital left on my mortgage with my lender Mars Capital, as I was getting different figures when using an online calculator. They couldn't provide information on how they calculated my mortgage (I asked a few times) however they did give me my annual statements going back to when I first drew down the mortgage.

Does anyone know who I should approach about reviewing these statements (plus my original mortgage documentation which I already have), and roughly how much it would cost for this review?

I am in a position to overpay my mortgage (which I have started doing with a small lump sum) but want to know exactly how much my overpayments will affect my mortgage/remaining balance, information I am not able to easily get from my lender. Even if I was able to get this information I just want to be able to independently verify it.

I don't suspect the lender is being deceitful, but my mortgage has been sold on a few times and I would just like to be sure no unintentional inaccuracies have crept in to my statements.


----------



## NicOir (22 Apr 2020)

Hi happyhippy. Have a look at interestratecheck.ie, they may be may be to help...


----------



## NoRegretsCoyote (23 Apr 2020)

If you have annual statements and interest rate applied it should be possible to DIY. I re-check my bank's calculations. It is never right to the euro but very close. This is tricky though and you need to have someone who can do it in MS Excel.

I have never heard of systematic coding errors made by Irish banks in calculating repayments, but you could never rule it out, particularly if your mortgage has been sold a few times.


----------



## Leper (23 Apr 2020)

Interesting thread - When we bought our first house with mortgage of circa €9K we got our first annual statement which indicated that the principal had increased by over £100 despite all monthly payments made. In other words we owed £9100 one year into the mortgage term of 20 years.

I queried this at the time through AIB Home Loans and I got a call into the local branch to be told in no uncertain terms something like "You owe this amount and how dare you query it"


----------

