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mortgage redemption
marraykm
Posts: 1 Newbie
If I and my solicitor received a redemption figure mid november and my new lender repaid that amount with completion date 5.12 can my old mortgage lender take direct debit on 6.12. do they have to return the whole amount or can they recalculate a new redemption figure
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Comments
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Sounds like you have overpaid, the figure your solicitors should have used would have been calculated to 5th Dec. Therefore it would not take into account any future payments. Your old lender will refund you the overpayment, if you cant wait for the money to come back you can do a direct debit indemity claim with you current account provider.0
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Direct debits can be set up for collection as far as 10 days in advance.
The overpayment will be be refunded to you in due course.
For future reference, in situations like this. Its worth cancelling the direct debit then your bank would have rejected it.0
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