Redeption statement and final payment

jiruk

I've been overpaying my Halifax mortgage for the last several months and attempted to make a final overpayment in the middle of November.

With this last overpayment the total when I viewed my mortgage online said Nil. I had a sub account 1 which showed a remaining amount of £34. As it wasn't clear how best to pay this off I rang the mortgage help line. I asked for an up to date balance. They gave a figure of around £3 but were not clear about how to pay this. They offered to post out a balance statement. I was expecting to just make a final online transfer for the final total they provided.

I've just received two letters. The first is a redemption statement. This gives a payment date of the 28th November and a figure of £2.96 owed. It suggests sending a transfer for this amount to a specified account and advises that an interest of 20p a day should be added beyond the 28th.

The second is a confirmation that my mortgage has been repaid and that Halifax are in the process of advising the Land Registry that a charge is no longer being held.

I have spoken to Halifax for clarification but they haven't said much beyond the fact that the balance has been paid off. The mortgage disappeared from my online account the day after my first phone call so I have no visibility of any totals beyond what has been sent.

I was hoping for additional input on where I stand. Does the fact that Halifax appear to have closed the mortgage account and are contacting the Land Registry mean that the redemption is no longer needed or valid? I'm just concerned that if I leave things any outstanding redemption charge will increase quickly if they're charging interest on it.

Nebulous2

I've absolutely no idea. They may have missed the sub-account when they said it was clear, but the only people who know that are at Halifax and you need to ask them.

However I'll tell you what I'd do. I would pay the £2.96 plus 20p per day as soon as possible.

I'm all for money saving, this is MSE after all, but arguing about £3 in a financial arrangement which has cost tens if not hundreds of thousands of pounds just wouldn't enter my thinking at all.

I've been relatively impressed in my limited dealings with Halifax. They seem to be quite on the ball. If threy decide they don't need the three quid I'd expect them to send it back.

davidmcn

If they've told you (twice!) that the account has been redeemed, and the account has been closed, then obviously there is nothing due to be paid.