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Mortgage redemption question
Sharra
Posts: 751 Forumite
Hi
I'm wondering if anyone can shed any light on something for me?
We're remortgaging (taking advantage of mortgage expresses early redemption penalty waiver) and have just had the figure from the conveyors as to how much the shortfall is we have to pay (our new mortgage is lower than the old, we're paying off some cash).
When we originally looked at doing this, we had a redemption statement from the ME in January and the total to redeem was £117690 (including £175 fee).
The figure we have had today involves us paying £5765.34 plus £112k mortgage so totalling £117765.34. Considering we have made 2 more payments since then, I would have expected it to come down slightly, not go up. I have queried it with the conveyor and they are sending me a copy of the redemption statement from mortgage express.
Am I right to query this, or am I being really daft and missing something obvious?
Any replies would be really appreciated.
Thanks
I'm wondering if anyone can shed any light on something for me?
We're remortgaging (taking advantage of mortgage expresses early redemption penalty waiver) and have just had the figure from the conveyors as to how much the shortfall is we have to pay (our new mortgage is lower than the old, we're paying off some cash).
When we originally looked at doing this, we had a redemption statement from the ME in January and the total to redeem was £117690 (including £175 fee).
The figure we have had today involves us paying £5765.34 plus £112k mortgage so totalling £117765.34. Considering we have made 2 more payments since then, I would have expected it to come down slightly, not go up. I have queried it with the conveyor and they are sending me a copy of the redemption statement from mortgage express.
Am I right to query this, or am I being really daft and missing something obvious?
Any replies would be really appreciated.
Thanks
0
Comments
-
Hi, If you look at the bottom of the redemption letter it says to ignore any penalty if you redeem by the end of June 2009. I thought the same when I got mine!0
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