Mortgage redemption payment options

hansi

Brittania BS have sent me a mortgage redemption figure which they say should be paid by CHAPS transfer on the 8th September. I don't really want to have to spend another £25 for the transfer. Do you think I would be able to pay by personal cheque in a branch a week or two before?

Niv

Have you thought about asking them?

hansi

Yes, I will ask them, thank you:( I just wanted to know if anyone had had experience of this. This is usually a very helpful forum

Niv

I wasnt trying to be unhelpful, but if I wanted to know the answer to the question you asked I would ask my provider. Sorry if it can accross that way.

hansi

It's ok :beer::D

happybroker

your redemption statement will outline how they will accept payment, oftenif a cheque is to be used you will have to add, say, 3 days interest on. If this is less than the TT fee then it's worth doing. Same goes for a BACS payment which will take 3 to 5 days to get there.

hansi

The letter accompanying the statement says" Repayment of your mortgage should be paid by electronic transfer (CHAPS). I guess this means that they will accept an alternative method of payment? I will speak to them about it anyway. Thanks for your reply