My mortgage is divided into two types, about 3/4 is interest-only and and 1/4 annuity. Due to an admin error, the bank changed it all to interset-only two years ago. I know I should have noticed sooner, but I did ring up last year as it didn't seem right to me and the person I spoke to said it was always interest-only. I rang again a few weeks ago, having checked the original contract, and they sent a letter saying it was an admin error and they had now changed it back to annuity.
Has anyone else experienced this? Should I ask them to compensate me? I had arranged it this way so that at least some was being paid down and I have missed out on two years' reduction. Of course, I appreciate that I also made less repayments.
I'd appreciate any advice on this.
Has anyone else experienced this? Should I ask them to compensate me? I had arranged it this way so that at least some was being paid down and I have missed out on two years' reduction. Of course, I appreciate that I also made less repayments.
I'd appreciate any advice on this.