Remortgage redemption query

[Deleted User]

I was hoping to complete on my remortgage mid month but my ex decided to be a bit slow signing his documents! My current mortgage payment is taken out on the 28th of the month, but i'm not sure if the interest is calculated up to the 25th and a day or two DD processing time.

Anyway if the mortgage completes between the 25th & 28th of the month, will the current NatWest mortgage redemption figure assume the 28th payment will go ahead as scheduled?

I'm trying to budget because another problem is my new mortgage provider Nationwide take payments in advance not arrears so I know my first payment is going to be higher.

Thanks.

kingstreet

You need to ask the solicitor handling the redemption what is the assumed last payment date on the redemption statement.

Thrugelmir

dalo wrote: »

Anyway if the mortgage completes between the 25th & 28th of the month, will the current NatWest mortgage redemption figure assume the 28th payment will go ahead as scheduled?

They'll be no assumption made. The figure quoted can only be based on what is known.

[Deleted User]

Thrugelmir wrote: »

They'll be no assumption made. The figure quoted can only be based on what is known.

Thanks, if for instance I complete the 27th and NatWest haven't assumed the payment, the direct debit will be too late to cancel at that point. How long do they have to return any funds? If it's 10 working days or so then that's a long time to wait. I'm never buying a house with another person again I mean it. They ought to teach you about divorce and separation issues in school :cool:

Thrugelmir

If completion goes ahead early you could always place a stop on the direct debit and bounce the request.