Variable rate tracker mortgage

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Cyberman replied

14 April 2009, 11:33
Originally posted by TimberWolf View Post

I belatedly phoned Barclays this morning to enquire as to wtf my variable rate tracker mortgage payments have been seemingly totally unaffected by all the huge base rate cuts. It turns out they have been keeping my monthly payments about the same by automatically increasing the capital I pay off each month. Who the flip can keep track of whether they are honest in this jiggery pokery is a mystery to me though.

You should receive a mortgage account statement every 12 months which will show all of your payments plus o/s balance in detail.
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jmo21 replied

14 April 2009, 11:14
same here with IF, but we are now paying more than double what we need to.

it's knocking lots of our mortgage though, so it's all good!!
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Ravello replied

14 April 2009, 10:55
Originally posted by TimberWolf View Post

I belatedly phoned Barclays this morning to enquire as to wtf my variable rate tracker mortgage payments have been seemingly totally unaffected by all the huge base rate cuts. It turns out they have been keeping my monthly payments about the same by automatically increasing the capital I pay off each month. Who the flip can keep track of whether they are honest in this jiggery pokery is a mystery to me though.

NatWest have been doing exactly the same, though they did at least have the courtesy to write to me and let me know what they were up to!
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TimberWolf started a topic Variable rate tracker mortgage

14 April 2009, 10:51
Variable rate tracker mortgage

I belatedly phoned Barclays this morning to enquire as to wtf my variable rate tracker mortgage payments have been seemingly totally unaffected by all the huge base rate cuts. It turns out they have been keeping my monthly payments about the same by automatically increasing the capital I pay off each month. Who the flip can keep track of whether they are honest in this jiggery pokery is a mystery to me though.
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