Mortgage final payment

cashsaver

Hi,


Can somebody please help?
My mum received a letter from her mortgage provider stating that her last payment made was her final payment (direct debit) and her account has now been closed. She cancelled her direct debit her end, as advised. Is this letter proof that it has been paid in full because now, (a month later) she received another letter requesting one more payment?
Any advice gratefully received.

Thrugelmir

Mortgage redemption fee?

cashsaver

Hi thanks for your reply.
Under redemption fees it states nil.
It is definitely for the final monthly payment including interest to complete the mortgage.

libf

Call the mortgage provider.

dimbo61

They have to calculate the final amount including any outstanding interest.
Be happy your Mum is Mortgage Free

cashsaver

Thanks for reply ..... would be fab to be mortgage free. However, she is 74 and its been a long haul for her on her own and she could really do without the conflicting letters. Been in contact with mortgage provider and they are now saying that the first letter went out in error!! No apology given.

Jhoney_2

I think the confusion can often be due to the fact that payments are always made in arrears e.g I recently changed product and was advised (in writing) my last payment of previous deal was May - only to find it was actually in June! I am sure that when her statement comes through it will all add up.

I hope it does not stress your mother out too much, but it is nearly over and congratulations are in order!

cashsaver

Thank you Jhoney for your kind words.

Landofwood

Well work out whether you owe the money or not.

Mistakes happen, you still have to pay your bills.

Jhoney_2

The use of language is a bit sloppy as they are supposedly talking about the final payment period in e.g July, which becomes payable in August.

The call centres and branches are just as poor at articulating this - hence the confusion.

davenport151

cashsaver wrote: »

Thanks for reply ..... would be fab to be mortgage free. However, she is 74 and its been a long haul for her on her own and she could really do without the conflicting letters. Been in contact with mortgage provider and they are now saying that the first letter went out in error!! No apology given.

How confusing for her. But at least she can see the end. Well done to her!
My Mum also finished paying off her mortgage after a divorce. Paying at a low rate for 30 odd years. She still paid it off early though as every time they decreased the amount she kept to the same payment even with two kids to raise (this was in the days of income support) What an inspiration she is to me.