Please help with remortaging question

eldaniel

Hi,
My remortgage completion date is set for tomorrow (provisionally).
I requested 75000, because I was not sure how much I will have outstanding after whole process. My outstanding mortgage together with ERC at the moment will be around 74k (rounded up - just to make it easier). What is going to happen with this £1000 difference? Would that go into my current account and mortgage will be £1000 bigger?? Or how is that working?
Also tomorrow supposed to be completion date, but tomorrow is a day when my £500 overpayment will reach Nationwide! I don't expect my next lender will be aware of that. I told them, they said they will call me about that and nothing so far.... Any advice what could be the outcome of those 2 questions?
Many thanks,
Daniel

loubel

eldaniel wrote: »

What is going to happen with this £1000 difference? Would that go into my current account and mortgage will be £1000 bigger??

Yes, any proceeds will be sent to you by your solicitor following completion. Your mortgage amount will be as per your mortgage offer.

Also tomorrow supposed to be completion date, but tomorrow is a day when my £500 overpayment will reach Nationwide!

Any overpayment to your existing mortgage will be refunded to you when they close down your account. You will need to ask them what their procedures are as they vary from lender to lender - some will send direct to you, some will refund to your solicitor. The time to do this also varies but they should be able to give you a rough idea.