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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by sarahhoughton[/i] [br]Hello all I have a Dilemma with 8weeks to go before my AD. I was under the impression that my fixed rate mortgage was due to drop in August after my AD date because I had been told by the bank that mortgages are paid in arrears and my fixed rate ends in July. I have received a letter today saying that my mortgage payment in July will be at the lower fixed rate because they have changed the way they calculate mortgage interest (daily not monthly) What this means is that my mortgage will be £80.00 per month less this month. 8weeks ago I received an IPOQ and the OR reviewed my circumstances and I was not made to pay an IPA/IPO (well I havent heard from them since to date) I do not currently have an IPA because I do not have the disposable Income but with this lower mortgage payment I'm guessing I will. I'll be honest in saying I was hoping to get out of BR without an IPA so I could enjoy a debt free life after discharge and I am in a real dilemma of what to do next. My questions is anyone knows are as follows:- 1) Will the OR know from my mortgage company when my fixed rate is due to end? 2) Will the OR automatically contact me to discuss the change in my circumstances or is it my responsibility to tell them? Surely they will have to contact me to discuss it if they are aware of it? 3) If I chose to keep quiet and not inform the OR of this chnage or waited to hear from them what are the possible outcomes? I would like to make clear that I am an honest person and I am not trying to get out of paying anything that I owe, but like I said earlier from a selfish point of view I wanted to finish my BR without an IPA/IPO and its because of my bank chnaging the way they calculate interest which has put me in this position [:(!] Help!!! Thanks in advance Sarah [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.