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Mortgage payment & moving?
pitbullpeebs
Posts: 87 Forumite
My house is sold & have a moving date of 3rd Aug, my dilemma is that I have a mortgage payment due on the 25th of this month, if I pay it then i won't have enough deposit to put down on the rental I'm going to. I was wondering if I didn't pay the last payment would affect the sale going through? There is equity in the property would/could they just take it from that?
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Comments
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Find out from your solicitor the assumed last payment date for your redemption figure.
It may not include the July 25 payment and if it doesn't you need to ensure it doesn't go out, otherwise it might take a couple of weeks to get it back.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Explain the situation to your bank and ask for a temporary overdraft.0
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