The lovely people at Ulster Bank had applied a 0.25% reduction to their SVR from July. However as with everything they seem to do they couldnt apply the reduction to their own system until October. So two payments came out for August and September on the higher amount.
I was expecting to see the 80 odd quid come backdate as well as the October reduction come in. But they just reduced October. There was no letter or anything in the post explaining what they had done. And when I asked someone I know in the mortgage section what was happening with this, they said that the reduction that should have been allowed for August and September was just offset against the interest outstanding on the total of the mortgage.
My question is are they allowed do this? Can I demand they refund the the money back to me as it was money I was entitled to and I would not have chose to pay it against the interest.
I know it may appear petty but my wife is out of work and every penny counts at this stage.
I was expecting to see the 80 odd quid come backdate as well as the October reduction come in. But they just reduced October. There was no letter or anything in the post explaining what they had done. And when I asked someone I know in the mortgage section what was happening with this, they said that the reduction that should have been allowed for August and September was just offset against the interest outstanding on the total of the mortgage.
My question is are they allowed do this? Can I demand they refund the the money back to me as it was money I was entitled to and I would not have chose to pay it against the interest.
I know it may appear petty but my wife is out of work and every penny counts at this stage.