Puzzling Redemption Figure??

skemp2

can I pick your brains,

I have just phoned my mortgage company alliance and leicester to reqest a redemption figure for the 26th of March as we are completing on a house purchase, they have told me it is £102,404.

I currently owe on my mortgage £101,274 and we were planning to pay a bit more off, we have paid our normal mortgage payment of £530 this month +£1300 capital payment and another payment is not due until after we complete, I was planning to pay another £1300 or so off after my pay day this month to bring it down to around £100,000.

there is a £295 redemption fee which is ok. but why is it so different? i just don't understand.

So instead of what I thought would be a redemption figure of around £100,295 is now £102,404?

Please help, really stressed about it.

VIGILANT22

why didnt you question this when speaking to alliance and leicester

beecher2

Is there an Early Repayment Charge payable? Or had the capital repayment not been deducted from the balance yet? You need to phone them up to find out

skemp2

I was just so gob smacked that I couldnt, I was dumb struck.

He said something about the interest being added at the end of the month as I normally make my payments on the 1st of each month??

There is no early redemption charges as I am on their SVR.

Must phone tomorrow. So worried.

ukclarkkent

could it be that the extra payments haven't cleared on their systems yet?