newbie question about remortgage

daxu

Hello,
I am moving my mortgage to Ing direct. But suddenly I have a question just pop up my head.

When I applied for remortgage, I don't really know the exact number of the loan I needed but I can remember it should be around 90000£, so I filled 90000£ in. The requestion is what if I only owe 89000£ in the mortgage? Where will that extra 1000£ go?

Thanks

Jerry

JoeK_3

daxu wrote: »

Hello,
I am moving my mortgage to Ing direct. But suddenly I have a question just pop up my head.

When I applied for remortgage, I don't really know the exact number of the loan I needed but I can remember it should be around 90000£, so I filled 90000£ in. The requestion is what if I only owe 89000£ in the mortgage? Where will that extra 1000£ go?

Thanks

Jerry

You should obtain a redemption figure from your exiting mortgage provider as soon as possible. Once you have this figure and you have received an offer from ING, compare the two figures.

You can request that ING change their offer figure to the same as the redemption figure obtained.

JoeK

---lee---

daxu wrote: »

Where will that extra 1000£ go?

It will be paid to you when you complete. You could then use it as an overpayment on your mortgage or do whatever you like with it.