Mortgage Direct Debit

drpaul_2

Hi all,

We are in the process of remortgaging and out completion date is the 31st of May. Our current mortgage payment is due on the 1st of June so my question is, As soon as the re mortgage is complete can I cancel the direct debit for our current mortgage even though it is due the next day?

The reason I ask, is that I have been caught out by this many years ago and the bank told me that a direct debit is requested a few days before and then actually leaves your account on the day you have set up.

I just don't want any hassle about a missed payment and then going through problems of their system updating to reflect the mortgage is complete.

Or is it best to let it go then get a refund.

Thanks

Paul

amnblog

Your final sentence sums it up.


In the unlikely event your payment comes out after the account is closed you can take it up with the Lender.

drpaul_2

amnblog wrote: »

Your final sentence sums it up.


In the unlikely event your payment comes out after the account is closed you can take it up with the Lender.

Sounds good. Ill let it go and get a refund.

The first payment for the new mortgage is 1st of July so no worries.

Thanks again

mrsp1987

I agree, I think you're overthinking things. If you cancel it you're running the risk of extra hassle. If you just leave it be the mo ey might go out but you'll get it back again.

drpaul_2

Thanks for the responses.

Your right I have been overthinking it.

All is now well.