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Question about credit to mortage account
trippy
Posts: 539 Forumite
Have just remortgaged and what a palava that turned out to be! Had to find £935 before completion (and payday!) to cover interest until next repayment and wrong exit fee, £345 valuation fee and mortgage has gone up by £995 to cover arrangement fee. I'm pretty sure overall I am better off but it has caused no end of problems.
Anyway, due to a mix up between solicitors and new lender, the completion was delayed by a weekend. Solicitors had tried to claim shortfall in extra 3 day's interest on existing mortgage of £69.80 from us, but we told them to go to new lender. So the solicitors told us that new lender has agreed to reduce 1st repayment by this amount so we can send cheque to solicitors for the difference.
We have now received all the confirmations and new lender has credited our mortgage with £64.62 (?) and we have to send a cheque to solicitors for £69.80. We weren't expecting to have to pay out for it and pay a full mortgage payment but are we better off with a mortgage account credit?
Anyway, due to a mix up between solicitors and new lender, the completion was delayed by a weekend. Solicitors had tried to claim shortfall in extra 3 day's interest on existing mortgage of £69.80 from us, but we told them to go to new lender. So the solicitors told us that new lender has agreed to reduce 1st repayment by this amount so we can send cheque to solicitors for the difference.
We have now received all the confirmations and new lender has credited our mortgage with £64.62 (?) and we have to send a cheque to solicitors for £69.80. We weren't expecting to have to pay out for it and pay a full mortgage payment but are we better off with a mortgage account credit?
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Comments
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Did you use the services of a mortgage broker or did you do it yourself?
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
We used a mortgage broker.0
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My worry is that most of the problems that you have experienced should have been dealt with by a competent mortgage broker.
The broker should have advised on all the areas that you mention.
Who decided when to complete?
Take it up with them.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
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