Remortgage completion today also payment date please help!

[Deleted User]

Hi, I complete today on my re-mortgage, however today is also the date that my direct debit has left my bank account for the previous mortgage. Their redemption figure didn't assume this payment and my solicitor advised not to cancel the direct debit so there will be extra funds coming back to me as I had to send over some money to the solicitor last week.

Will the solicitor send the original redemption figure to Natwest and then Natwest will owe me or will the solicitor call up for today's redemption figure and then pay me back the over payment?

I really can't be waiting weeks for this money to come back, have they an obligation to get the money back to me asap or is it 5-10 working days like most things :cool:

kingstreet

I disagree with your solicitor. I would have cancelled the direct debit to prevent this payment being debited. If for some reason completion didn't take place, you could have done a card payment over the phone.

The solicitor is also given a daily rate to add to the redemption figure which covers a week after the target completion date.

The payment will be refunded back to the account from where it came, so don't cancel the DD now. It usually takes upto two weeks for its return.

[Deleted User]

Thanks, well it's all complete. I will call NatWest tomorrow and just check.

Thrugelmir

Any excess will be refunded promptly.