Any idea what a redemption audit is?

CrustyMcMuffin

Hi

Arrived home today to find a letter from Northern Rock (our previous mortgage company) asking us to call them regarding a redemption audit. Their office is only open during the week so I can't find out what it is until then. Anyone got any ideas?

Ta

opinions4u

Could be one of two things.

1) You've overpaid them when you've remortgaged and they owe you money

2) The other way round

Check settlement figures in your paperwork and see if you can spot a discrepancy. And come back here with details before you commit to paying them any money if it's (2).

CrustyMcMuffin

Thanks, I'll hunt out the paperwork. The new lender sorted out all the payment side of things so if we are liable then hopefully they will pay for it, lets just hope its the other way round!

dimbo61

Lots of lender charged more for your exit fee ( as they put up the cost) than it said on your original mortgage documents !
Mine tried to charge me £295 when the paperwork said £145

antrobus

CrustyMcMuffin wrote: »

Arrived home today to find a letter from Northern Rock (our previous mortgage company) asking us to call them regarding a redemption audit. Their office is only open during the week so I can't find out what it is until then. Anyone got any ideas?

Not a clue.

But I wouldn't bother calling them. Write back to them and ask them what they're on about.