mortgage payments query

This seems like a strange one and i thought i would get an opinion on here before I contact my lender.

I purchased a house in March 2006 (price 290K, mortgage 281K) it was a new build and I had to draw down funds when the roof was on the house and this happened in November 2005.
solicitor organised the draw down and instead of drawing down the roof level and land part of the mortgage (181K) The whole amount (281k)was drawn down in november 2005!! ( though house was not completed/ signed over to me from the builders until march 2006 )

I left it as it was as i had earlier problems with the bank.. i had asked for a mortgage for 266K and they gave me 281K and with the delays etc just getting the mortgage down I decided not to risk any more hassle and accepted the early drawdown and I understood Iwould be starting my mortgage payments early.
On 1st of november 2005 my first DD was taken out of my account for my mortgage 164.37. I assumed this was some charges ie valuations etc.. the 1st of december 2005 a full mortgage payment came out 1244.63. then i thought no more about it.. I got my first mortgage statement early in 2007.. and on that statement it stated what i paid every month in 2006. There was no mention off 2005 payments.. I never recieved a statement for 2005 and i guessed that was because I didnt actually move into the house until march 2006..

anyway yesterday when I was going through all my statements I noticed ( for the first time doh!!) that my opening balance on my mortgage statement 2006 was 281232.40 ! my mortgage was for 281K and i had paid my first full installment December 2005!! this payment does not seem to be registered against my mortgage?? It definitely came out of my bank account!.. or is mortgage worked out a month behind or something?I can see that jan to dec 2006 my mortgage balance went down a little every month..I am on repayment mortgage

anyway just wanted to check is this normal before I call the bank ( its ulster bank)

I think your question is: "A payment of €1,244 was debited from your account in late 2005 and it does not appear as a credit against your mortgage."
There is no logical reason why this should have occurred. Take the statement into your bank and ask them to check it out. This can be checked very simply by a historical limpse through the transaction history on your mortgage account.

your details are slightly confusing.
if you drew down in nov 2005 the first dd would not have pulled on 1st Nov.

best thing to do is ring the bank, ring the mortgage centre, number should be on the statements.

find out the real drawdown date.
find out the first partial dd and first full dd.
get a cert of interest for all years 2005 onwards
and get a statement for 2005

if the funds were not released to you but the solicitor held them in their customer account, you possibly could have been re-imbursed for the interest charged on your account.

hi thanks for replying

I drew down earlier.. sorry..signed off in early october! just going through badly organised paperwork I actually think in my distant memory I did ask UB for a statement in 2007 for 2005 and they never sent me one!..
I only noticed yesterday that the CF balance on January 1st 2006 was 281232.40 .. have no idea why I had not noticed that before!!

I think your question is: "A payment of €1,244 was debited from your account in late 2005 and it does not appear as a credit against your mortgage."

Click to expand...

thats exactly what my question was thank you

I will contact the mortgage centre.. I hate ringing them though as its such painful experience getting through to someone who can actually help .
thanks for your advice, much appreciated.

R

what was the interest rate on the mortgage? You start paying interest from day 1 of the mortgage so presumably some interest posted to the account before 1st January.

for example if the interest rate was 4% the annual interest charge would have been c. 11k, so two months interest would have been about 1,800.

I think the figures are really saying that two months interest (from 1st Nov - end Dec) amounted to (164.37) + 1,244 + 232.40