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Mortgage end of term date - how long to pay?
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-MONKEY-_2
Posts: 3 Newbie


Hi, can anyone please help with my question? My mortgage ends in mid April. I will just about have the funds to settle it. However, for cash flow reasons, I won't be able to make the payment until 7-10 days after the end of term date. In normal circumstances, can I just do that without asking the mortgage company first or getting them on my back?
Please don't suggest I contact them in advance and ask for permission or an extension or whatever - I really don't want to do that, for various reasons I won't go into. I'd much rather just get the redemption statement and then help myself to that few extra days before paying it. I don't want to get into any aggro for it. I don't mind if at worst they just hit me with the extra interest for that short time between end of term and my payment.
Will I be OK to do as above?
Thanks.
Please don't suggest I contact them in advance and ask for permission or an extension or whatever - I really don't want to do that, for various reasons I won't go into. I'd much rather just get the redemption statement and then help myself to that few extra days before paying it. I don't want to get into any aggro for it. I don't mind if at worst they just hit me with the extra interest for that short time between end of term and my payment.
Will I be OK to do as above?
Thanks.
0
Comments
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They may hit you with other charges besides interest. Mid month is a strange time for a mortgage term to end. Normally end of month as this is when interest is calculated.2
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They will write to you asking for payment of the outstanding mortgage ?
If you don't pay on or before the date you will incur more interest.
I guess that it will take more than a few days for your lender to take any action.
It you have a figure from the lender and pay that a week late they will bill you later for the owed interest.1
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