November 11, 2011 at 3:39 pm #56591
I’m trying to suss out just what our lovely (!) bank has done. Can anyone in the know shed some light?
Basically in August 2009 our solicitor (family member) and my parents in law (as forced guarantors to the mortgage) went with the bank manager to extend the term of the mortgage.
We had taken out the (I feel like weeping when reminded of it but….) mortgage with CajaMurcia in 2006 for 30 years.
We were living in the UK and asked them to up it to 40 years. Yes the bank manager said until at the notary he apparently said it could only be upped to 30 years ago, so we got 3 years extra.
The first start date is 2006 and to finish paying in 2036, 30 years.
If it was upped from the signature on 28th August 2009 to finish on 2039 we should now be paying for another 28 years? I’ve been asking and asking why we don’t pay the amount I think we should and they come up with endless reasons why, basically saying that I don’t understand their system.
All paperwork and the amount we pay suggests we have 24 years and 9 months left to pay. I am convinced that the bank manager didn’t change the mortgage in 2009 and kept on trying to cover up. He’s now taken early retirement (!) and a new lady, a bit of a battleaxe, is the CajaGranada and CajaMurcia boss in the local branch.
She virtually threw the paperwork at me showing that in July 2009 we paid 706 euros per month, 143euros capital and 562 euros interest. Then in August it went down to 493 euros per month (244 capital and 249 interest). I argued that the mortgage is the Euribor plus 1% and going by the euribor rates of 5.9% for August 2008 to August 2009 and then dropping August 2009 to 2.6% then that explains the drop in the monthly cuota. So the interest dropping from 5.9% to 2.6% could have had the 212 euros per cuota affect?
Also, it shows that the cuota changed on day 1 rather than the paperwork which was signed at the notary on the 28th August. I can’t see where there is a difference or benefit from the signing at the notary to add years. The interest rate drop is the reason we paid less during that time?
Another lady at the branch, who actually seems a bit more switched on, wants to investigate the ‘carencia’ during that time. She says that we paid less monthly due to the signing rather than extending the mortgage term. Even though the paperwork in the yellow and blue folder from the notary says ‘Escritura publica de alteraction de plazo de prestamo’. And we thought adding the years to the term would lower the term.
If my workings out are right, they didn’t change it at the bank or on the system and that is why we are paying 523 euros per month, the exact same amount as their ‘simulador’ online shows for the captital, interest and same term. They didn’t change it on their system and we’ve been paying more than we should have done for 27 months??!!
If we’ve been paying more than we thought we should have been paying due to the bank manager not changing the deed info on their system can we get that money back, it should be a little over 1000 euros. Can we ask them to up the term now with the previous signing of 2009 (as my mother in law sadly died recently and my father in law won’t sign another piece of paper with our bank). We owe 3 months of mortgage so to clear 1000 euros stops them hounding us!! If it is their fault what are our rights? Does anyone know?
So, if the bank didn’t up the mortgage term as per the signing at the notary what rights do we have, what options? The bank just want us to sign up to another mortgage option with a lesser amount to pay each month at 5.5% over 3 years and fees of 1200 euros (which we obviously don’t have otherwise we’d be using that money to pay the mortage we owe them!!). Then they want us to have a minimum rate of interest rather than our 1% over the Euribor.
They are really quite aggresive with me and I go by myself to try to find out what has happened as I don’t want my spanish husband to start a fight in the bank.
What can we do???
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