Miscalculation of interest and fees and payments

[speedracer]

Hi All,

 

there was a big issue a few years ago in Australia when it was discovered that banks frequently made regular mistakes in their own favour on the calculation of payments / interest etc on home loan accounts.

 

The lack of information that I get about my home loan and repayments (Woolwich) concerns me and I would like to regularly check the calculations but I am no accountant.

 

I refer to this : http://www.moneybags.com.au/default.asp?id=4452&a=0

 

and this :

 

"Check your statements for errors

There are claims that more than 50 percent of home loan statements contain calculation errors. Simple mistakes, like the entry of the incorrect balance or the application of the wrong interest rate at the wrong time can be costly and mostly favour the lender. We all make mistakes, even bank computers make them and that's why borrowers should keep a close eye on loan statements. Various software for your home PC is available that can run a check on your statements. "

 

There is also an Australian chat page here that refers to software you can use - Home loan error check software - On the internet

 

This may have been discussed on here before (I am only new ) - can anyone point me in the right direction or know of some software dedicated to the UK market?

[speedracer]

74 views and no reply?

 

Does anyone know of this type of software?:idea: