We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage Payment Taken after house sold?
sam3103
Posts: 54 Forumite
Hi all, just looking for a quick bit of advice, I have contacted my mortgage adviser but hoping someone on here may know something while I wait to hear back.
We completed on the sale of our house last week, 26th May. We have moved in with family while we wait to find a new house. So the mortgage was redeemed etc and we have received our money from the solicitor.
Anyway the mortgage payments always came out on the 1st of the month and today the mortgage company have taken the payment as usual from our bank account.
Am I missing something here or is this an error? Surely as of last Thursday we don't have a mortgage anymore so why have they taken a payment?
We completed on the sale of our house last week, 26th May. We have moved in with family while we wait to find a new house. So the mortgage was redeemed etc and we have received our money from the solicitor.
Anyway the mortgage payments always came out on the 1st of the month and today the mortgage company have taken the payment as usual from our bank account.
Am I missing something here or is this an error? Surely as of last Thursday we don't have a mortgage anymore so why have they taken a payment?
0
Comments
-
A direct debit needs to be applied for 3 days before the due date. Due to the bank holiday they would have had to apply for it before you completed.Won a holiday every year since 2014......come on 2021!!
2020 Winnings Value £37500 -
Thank you, I didn't think of it like that. Hopefully it won't take too long to get that money back
0 -
Under the direct debit guarantee should be returned in within 14 days.
A call to their customer services department wouldn't go amiss - but no need to get into a lather about it, will certainly be sorted out.
As others have indicated - this is all totally normal.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Some direct debits are submitted 2 weeks in advance of payment date.
It is a very common occurrence. In some cases that payment will be taken into account in the redemption figure. However, usually it is not but returned within 2 weeks automatically.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Had this exact situation last month, mortgage was cleared on the Monday and the DD had been due over the weekend so also came out that Monday.
It automatically went back into my bank account a couple of weeks later.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards