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Mortgage redemption when moving
Letsgetmoving
Posts: 63 Forumite
Hoping for some guidance, we are moving house and on my internet banking it says around £63,200 left on the mortgage. Our new mortgage was based on it being £65,000 left.
Does this mean we get e.g. £1,800 off the solicitors bill? The mortgage advisor mentioned but it was ages ago. If so I take it it’s worked out right at completion as we’ll be paying right up until then.
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Comments
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You get the sale price minus whatever the redemption amount is on the date of completion. So if you had overestimated it then yes, you have another £1800 to play with.1
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