Mortgage Redemption Issue

user1977

Another likely possibility is a second account which was secured on the property - ever had a further advance, for example?

MWT

Carlos77 said:

...and have had the mortgage and secured loan for about 15 years...

Would the £5k balance they are claiming make sense in terms of the secured loan? ... and did your solicitor know about the secured loan?

Carlos77

They said the secured loan was paid offv(22k ish), and the remaining 5k was on the mortgage itself

user1977

Carlos77 said:

They said the secured loan was paid offv(22k ish), and the remaining 5k was on the mortgage itself

Yes, but did the redemption statement cover both accounts? How the bank have split the repayment across the accounts doesn't really prove much.

Carlos77

the redemption amount was around 33k so more than covered the secured loan amount, so assuming that i owe the extra 5k, they only took a partial payment of 11k from the mortgage. they did say the secured loan part was fully paid

user1977

Carlos77 said:

the redemption amount was around 33k so more than covered the secured loan amount, so assuming that i owe the extra 5k, they only took a partial payment of 11k from the mortgage. they did say the secured loan part was fully paid

"Fully paid" with the money they received from your solicitor? That's what I'm getting at - if there were balances due on both the main account and the secured loan before you sold, then the redemption statement should have covered the balances on both accounts. Did it?

getmore4less

Cancel the DD.