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How long should a direct debit mortgage payment take to come off the balance?
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[Deleted User]
Posts: 0 Newbie
I rang for a balance on my mortgage and was given an amount which took account of my last payment (on the 25th May).
In the same phone call I then asked for a redemption statement and she quoted a figure which did not include last month's payment.
I asked why and she said it takes 10 working days for a direct debit payment to come off the balance.
TEN days?
Is this a con of some sort?
The redemption statement then comes through with the wrong amount as it does not take account of last months payment - and the redemption figure is only valid for 7 days.
The lender is Abbey.
Do other lenders do this?
In the same phone call I then asked for a redemption statement and she quoted a figure which did not include last month's payment.
I asked why and she said it takes 10 working days for a direct debit payment to come off the balance.
TEN days?
Is this a con of some sort?
The redemption statement then comes through with the wrong amount as it does not take account of last months payment - and the redemption figure is only valid for 7 days.
The lender is Abbey.
Do other lenders do this?
0
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