Last mortgage repayment between exchange and completion

emza10

Hi,

We’ve exchanged today with a completion date of 10 July. My usual mortgage payment for current property is start of the month. I asked my solicitor if I would still have to pay Julys payment and he said yes but then I’d have to claim back the credit from Santander. Can anyone confirm this? I’d obviously rather not pay at all! Will phone Santander tomorrow.

Thanks

Noobie2011

emza10 wrote: »

Hi,

We’ve exchanged today with a completion date of 10 July. My usual mortgage payment for current property is start of the month. I asked my solicitor if I would still have to pay Julys payment and he said yes but then I’d have to claim back the credit from Santander. Can anyone confirm this? I’d obviously rather not pay at all! Will phone Santander tomorrow.

Thanks

We had this a few weeks ago. If in doubt leave it in place and your lender should auto refund you once the account is closed as otherwise you may risk something going wrong.

I was going to leave mine in place but once we completed I rang our lender and they confirmed completion funds in place so was okay to cancel

davidmcn

emza10 wrote: »

I asked my solicitor if I would still have to pay Julys payment and he said yes but then I’d have to claim back the credit from Santander. Can anyone confirm this?

Don't you trust your solicitor? Yes, Santander will want paid as normal. Neither they nor you know for certain that your completion will actually happen when it's meant to, in the meantime everything continues as normal.