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Retention funds about to be released
MyhouseiscalledGertrude
Posts: 1 Newbie
I have a (probably stupid) question about a mortgage retention.
Nationwide retained £2,250 of our mortgage in the summer because our house was damp. We have had damp proofing work done and submitted the certificate to them. They are happy with that, their surveyor is faxing over a report in the next two working days apparently (who still uses fax??!) and then the funds will be released apparently.
My question is - where does the £2,250 go? Does it go onto our mortgage, or into our bank account? We borrowed £2,000 to help cover it from my parents which we'd like to repay ASAP but I'm now doubting whether we actually get it or not.
The lady I spoke to at Nationwide didn't know the answer and thought my solicitor might be involved.
Does anyone on here know the answer?
Many thanks!
Nationwide retained £2,250 of our mortgage in the summer because our house was damp. We have had damp proofing work done and submitted the certificate to them. They are happy with that, their surveyor is faxing over a report in the next two working days apparently (who still uses fax??!) and then the funds will be released apparently.
My question is - where does the £2,250 go? Does it go onto our mortgage, or into our bank account? We borrowed £2,000 to help cover it from my parents which we'd like to repay ASAP but I'm now doubting whether we actually get it or not.
The lady I spoke to at Nationwide didn't know the answer and thought my solicitor might be involved.
Does anyone on here know the answer?
Many thanks!
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