As the other poster said if its interest only the capital amount remains,hi-had to come to an interest only arrangement with BOS a few years ago for a mortgage of 187K.
Have paid 25 off in the past two years but Pepper are charging us as if we still owe 187k.
What action can we take or is this standard practice in such a case?
thanks
As in Pepper are still collecting the same repayment each month?However Pepper are calculating the interest payments as if the balance was still €187. Is there any reason that they should see fit to do this?
That happens sometimes, your arrangement most likely has a manual setting that you have a repayment of 'X' per month.
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