NATWEST - Interest to Anticipated Redemption Date ?

bbasra

Guys,

Can anyone explain Natwest's Interest to Anticipated Redemption Date ?

They've added a charge of £852.67 which they say equates as follows from 16th November to 11th Jan

daily interest @ 2.02% Fixed - £12.10 x 46 Days
daily interest @ 4.49% SVR - £26.90 x 11 Days

however, I've already paid my monthly mortgage payments which included interest?

Many thanks in advance.

YHM

When was your last payment date on your Natwest mortgage?

davidmcn

and on what date was the redemption statement issued?

bbasra

YHM wrote: »

When was your last payment date on your Natwest mortgage?

15th December was my last payment date. 15th Jan is the next one however, trying to complete 11th.


Redemption statement is dated 5 January 2018.

Jamesellward

Hi did you get any further with the redemtion charge

Jamesellward

I have just been given mine and the same thing has happened with me. There is a section with the amount for aniticipated interest i though i paid my intrerest on my monthly payments

Thrugelmir

Interest will be charged in arrears, i.e. on the outstanding balance.

73Jonathan123

Hi,
I'm confused by this one too. Not sure I'm clear on the answers. I'm looking to pay off the last £800 on my mortgage but the redemption notice has come in with a charge of 299.91 for this 'Interest to Anticipated Redemption Date'. My last repayment was £22 on the 21st March. Can anyone explain the maths to me please? I thought I would be paying off £800, not 1099.91.

Thrugelmir

There'll be a mortgage redemption fee to pay. Perhaps this is included within the figure quoted.

73Jonathan123

Thanks, but if it's a redemption fee why is it called 'Interest to Anticipated Redemption Date'. Legal Jargon?

Thrugelmir

73Jonathan123 wrote: »

Thanks, but if it's a redemption fee why is it called 'Interest to Anticipated Redemption Date'. Legal Jargon?

Laziness in preparing the statement possibly.

What's your current mortgage product. Any conditions attached.