Just wondering if Ulster Bank send out a letter showing how much the term has reduced? I've always reduced the principal and they send out a letter about the lower payment but I haven't got anything this time after reducing the term after making an overpayment.
I never got a letter despite a year of regular overpayments. Rang to enquire one day and they told me they don't reduce the term until you write to inform them.
So I wrote a letter stating all overpayment made from x date to now were to be regarded as reducing term. Got a letter confirming it had been done then
I never got a letter despite a year of regular overpayments. Rang to enquire one day and they told me they don't reduce the term until you write to inform them.
So I wrote a letter stating all overpayment made from x date to now were to be regarded as reducing term. Got a letter confirming it had been done then
There's something wrong about that. Does that mean the interest we pay them doesn't drop until a letter is sent? I'm surprised they're allowed to do that.
There's something wrong about that. Does that mean the interest we pay them doesn't drop until a letter is sent? I'm surprised they're allowed to do that.