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Remortgage Overlap Payment to Previous Lender
aquiece27
Posts: 2 Newbie
I have just remortgaged with Nationwide from Newcastle, the new mortgage with Nationwide completes on 6th May. I have recieved the redemption certificate from Newcastle which includes payment made from January 1st to April 1st.
However, Newcastle will also be taking payment for £872 on 1st May on SVR, the fixed rate previously was £600, despite the new mortgage with Nationwide starting on the 6th.
Is there anything I can do to stop this payment or do I have to pay the old lender and then claim a refund? Or can the redemption certificate be updated?
Or what else can I do?
Originally it was meant to complete the 1st of May but corona has caused delay, hence this issue.
Thanks in advance.
However, Newcastle will also be taking payment for £872 on 1st May on SVR, the fixed rate previously was £600, despite the new mortgage with Nationwide starting on the 6th.
Is there anything I can do to stop this payment or do I have to pay the old lender and then claim a refund? Or can the redemption certificate be updated?
Or what else can I do?
Originally it was meant to complete the 1st of May but corona has caused delay, hence this issue.
Thanks in advance.
0
Comments
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The actual final settlement figure will take account of all payments made.0
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The statement should say whether it assumes you're making the 1 May payment or not.0
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