Mortgage Settlement figure negotiating 14 March 2016 at 12:09PM in Mortgage-free wannabe 3 replies 771 views

owenmi01

Hi There,

Please can anyone advise if they have managed to negotiate with there bank or building society on the mortgage settlement figure they have been given.

I am in the fortunate position where i have received an inheritance and would like to pay off my mortgage.

With my inheritance and some savings i am fairly close to the settlement figure but short by about £3000 pounds.

Has anyone ever managed to get there bank or building society to accept a smaller amount than there settlement figure they have received.? My Mortgage is with Santander if that helps.

TIA for your advise !

SueP19

Usual rule of thumb is that a settlement figure on any debt only becomes available if there are significant arrears or has been passed to a debt collector.

Would suggest you post a few more details because you could still end up MF but in a few months time with the right planning

owenmi01

Thanks Sue... The Mortgage is not in debt at all, in fact i have been overpaying for a good number of years and i also have a savings lump sum with them.. Santander does allow overpayments either via a lump sum every so often or each month because it is a flexible mortgage...i obtained the settlement figure simply by ringing up for it, there is a small admin fee to pay it off early but i have included that in the figures i have...

SueP19

The chances that the spanish bank will "do a deal" are small but if you don't ask you won't know :rotfl::rotfl: