Mortgage in arrears - but how?

[Pinkflipflop85]

Wondering if anyone can help me with my confusion, as the customer services for my bank aren't currently answering the phone.

I just popped onto our mortgage account to see if we could start doing some overpayments. However, it won't let me as it states we are in arrears. When I looked at our statement online it said we are 3.46 in arrears.

I don't understand how this is possible when we have a direct debit set for the mortgage repayments and have never ever missed one. I'm also now panicking slightly that this is going to affect our credit scores etc.

£3.46?

who do you-have your mortgage with ?

sounds very unusual

Santander.

It has really thrown me. Especially with is being such a random small amount.

How odd. Have they not written to you about it? Could it be the extra interest you sometimes need to pay when you take out a new mortgage?

I'd ask for an explanation, pay them the £3.46 and check the DD is set at the right amount.

Sign up to credit karma to see what's been reported there about the account.

Have looked on credit karma and the account has no missed payments.

Very odd. Hopefully will be resolved with a quick call in the morning, but as an anxious person this has unsettled my evening!

I wonder if it’s a rounding error that’s built up over however long you’ve had the mortgage.

I reckon it's some internal admin conundrum - like one of their systems that calculates the amount due rounding up whilst the system that generates your DD amount rounding down - causing an underpayment of a few pence a month.

It's probably easily fixed and if you haven't got any late or missed payment markers, nothing to panic about op.

Thankyou all for the helpful replies.

Does your DD increase in line with interest rate?
Some kind of charge not accounted for?

Could it be due to the number of days in the month? So if your payments taken by DD are one twelfth of the annual amount, but it's charged daily, some months you would very slightly overpay and some very slightly underpay?