aly
01-05-2012, 10:01 AM
how would the mortgage interest work when calculating if the interest was within a reserve account?..
Basically we had a Woolwich Open Plan mortgage which was a tracker, we were over paying on the ammount as we had used up all the reserve available over the years.
As the mortgage was taken out back in 2000~2001 the actual interest rate was very very low, but since we were in "overdraft" (causing interest added on to the mortgage) with the mortgage by using up the reserve how would we work things out?
Hope thar makes sense?
Basically we had a Woolwich Open Plan mortgage which was a tracker, we were over paying on the ammount as we had used up all the reserve available over the years.
As the mortgage was taken out back in 2000~2001 the actual interest rate was very very low, but since we were in "overdraft" (causing interest added on to the mortgage) with the mortgage by using up the reserve how would we work things out?
Hope thar makes sense?