We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Re mortgage-How is a settlement figure agree?
sheilds
Posts: 156 Forumite
Hello,
We are just in the process of remortgaging changing from Santander to Tesco.
We applied to Tesco giving an estimated settlement figure but since then we have made another payment to Santander making that settlement figure incorrect.
We are completing this week so how is the settlement figure adjusted?
Do we need a new agreement from Tesco to reflect the new figure even though we signed the offer based on the original figure?
Hope this question makes sense-it does in my head:)
Thanks
S.
We are just in the process of remortgaging changing from Santander to Tesco.
We applied to Tesco giving an estimated settlement figure but since then we have made another payment to Santander making that settlement figure incorrect.
We are completing this week so how is the settlement figure adjusted?
Do we need a new agreement from Tesco to reflect the new figure even though we signed the offer based on the original figure?
Hope this question makes sense-it does in my head:)
Thanks
S.
0
Comments
-
Your solicitor will ask for a redemption figure assuming you complete on a certain date.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
-
Any under/overpayments will be settled in the process. The actual balance is a moving target that will be determined on the day that the old mortgage is discharged i.e. paid off.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards