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intrest payment

  • iamdeaf
  • Topic Author
12 years 11 months ago #52857 by iamdeaf
intrest payment was created by iamdeaf
is this right
they have reduced my intrest payment to my lender -last year they paid £30.00
towards it this year they are paying £18.00
my benifits have risen by £9.00 in this time but my house payments are the same

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  • Survivor
12 years 11 months ago #52862 by Survivor
Replied by Survivor on topic Re: intrest payment
Interest payments have been reduced. There was a discussion about it a while back. I'll see if I can find a link for you.

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  • Survivor
12 years 11 months ago #52863 by Survivor

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  • iamdeaf
  • Topic Author
12 years 11 months ago #52866 by iamdeaf
Replied by iamdeaf on topic Re: intrest payment
thank you survivor for quick reply i see i am not alone

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  • originaldave
12 years 11 months ago #52867 by originaldave
Replied by originaldave on topic Re:intrest payment
iamdeaf wrote:

is this right
they have reduced my intrest payment to my lender -last year they paid £30.00
towards it this year they are paying £18.00
my benifits have risen by £9.00 in this time but my house payments are the same


the interest rate of your mortgage is not the one the DWP use for benefits.. for sometime after the credit crunch some peoples interest rate was much lower than the DWPs rate so for a time some people where getting capital paid off too. so they changed it (cut it)

so rather than do a calculation to do a fair setting ... they IMO slashed the rate used, meaning many people have been hammered by now having to find money to make up the differance

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