Help needed with mortgage redemption statement

Hi all, I'm hoping that someone will be able to help me with this.
I am in the process of staircasing my flat (50% to 100%), and the solicitor emailed the redemption statement from Santander this afternoon. I've looked at it several times, and still don't understand how they have come to the total amount needed to redeem the mortgage. And there is a second issue that I will get to at the end.
So the redemption statement gives the following information:
Interest rate  4.49%
Capital balance  £31,882, 73
Amounts uncleared  £379.12
Interest  £118.53
Redemption charge  £225
1 Day's daily interest  £3.92   (this is because the redemption date is the day my next mortgage payment is due)

I added the capital balance, the interest, the one day of interest (as redemption has been instructed for the day of my next mortgage repayment), and the redemption charge.  But this only comes to £32, 230.18 and the redemption statement has the total amount needed to redeem the mortgage as £32,605.38

I'm also assuming the amounts uncleared is my next mortgage payment (as that was my mortgage payment this month and previously), and I would have thought that this would come off the total amount to redeem the mortgage, making the total less than £32,230.18

Am I missing something?

The second, and lesser, issue is that I instructed the solicitor to issue the redemption statement on 2nd April. As the solicitor had said that it would take at least 5 working days for the redemption statement to be produced, I made a final overpayment on 3rd April. But on the redemption statement that I received today, it is dated 2nd April, and the capital balance is the balance prior to that overpayment. I'm guessing that this is likely to change the interest as well as the capital repayment, so would another redemption statement need to be produced?

Thanks in advance for any insights you can give.   :)

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Lenders will provide redemption statements on the basis that the monthly repayment isn't paid. 
    Any excess monies paid by you in the final reckoning will be repaid. Have no concerns in that regard. Though might take a week or so to work it's through the system. 


  • Thanks for your reply!   :)

    Do you know how they came to their total to redeem the mortgage?
    Being a maths geek, I'm really curious!   ;)
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