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Stupid question about money leftover
daelaan
Posts: 37 Forumite
I know this is stupid, however....
if my mortgage was (say) 50,000, and my house was being bought for (say) 60,000 and over the last few years I'd paid off about 4000...
when the money was paid over to me, am I right in thinking my mortgage provider would get 46,000 and I would receive 14,000?
if my mortgage was (say) 50,000, and my house was being bought for (say) 60,000 and over the last few years I'd paid off about 4000...
when the money was paid over to me, am I right in thinking my mortgage provider would get 46,000 and I would receive 14,000?
0
Comments
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yes, when your solicitor redeems the mortgage on your behalf after you have sold it for 60000, you get 14000 minus any redemption fee and solicitors fees etc0
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awesome thanks. I did think this was the case, but its such an obvious question I felt a little stupid about asking the solictor
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awesome thanks. I did think this was the case, but its such an obvious question I felt a little stupid about asking the solictor
Please don't feel stupid asking us this kind of thing. OK it may be straightforward and your assumption WAS correct, but sometimes people ASSUME things and get it wrong because they were afraid to ask their solicitor!
As a conveyancing solicitor I believe the information given in the post to be useful but I accept no liability except to fee-paying clientsRICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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