Arrears Almost Cleared but Not

[Wishes]

My friend has a tracker mortgage. They were in arrears of €1,400.00. They spoke to the bank and assured them they would meet their obligations each month and would continue to pay extra to clear off the arrears.

The account was almost back in good standing with approx €600.00 left on the arrears.

On Friday they discovered that the account is back in disarray and the arrears due is almost back to the amount they once owed.

Is this possible?

 

[wbbs]

Not enough information to answer that question. What is the monthly payment? Was it by any chance due last week and is around €800

 

[Time]

Penalty interest and charges?

 

[Brendan Burgess]

Penalty interest and charges?

Not allowed if it's a home loan.

I don't think that it's often charged on buy-to-lets even if the mortgage contract allows.

The only way to understand this is to look at the statement. They are difficult to understand, but persevere and you will follow it.

 

[Wishes]

He has ordered a statement from the bank. I wonder is it legal added on because they had to chase the arrears owed?