Nationwide mortgage redemption… then extra DD?

mortgage_freeee

Hi all newbie here, just joined as I am kinda stuck with an issue with nationwide.

on 21st of August I got a redemption figure for that day (from nationwide app) and paid off my mortgage a few hours later on that day. I actually went into my local nationwide branch as I was nervous about sending that amount of money, then I had to go into my Lloyds bank as the app wouldn’t let me send that amount of money.

Sometime on the 23rd or 24th (sorry I was on nights that weekend so I am not 100% on the day etc) the mortgage disappeared off my app.

Then on the 26th nationwide took an extra direct debit payment. 

Initially I figured it was in error due to the weekend, and when I spoke to them (a few days after) they confirmed this and said I would get a refund in 10 working days …. 

3 weeks later when I next phoned them (it was a Saturday), they said the same and again said I would get a refund in 10 working days or would phone me on the following Monday if there was any issues, they never called.

I phoned them again today, and now they are saying that this extra payment was part of the redemption figure? 

Yet when I was getting daily redemption figures in the weeks before the day I paid it off (moving money around etc), the figures kept going up slightly (daily interest I get it), and never once dipped due to a direct debit payment etc.

so am I due a refund and they are trying to fob me off or???

Rodders53

Write to them with a letter - take into branch to avoid post costs if desired - headed COMPLAINT.

Ask them to provide a detailed written breakdown of the mortgage interest added vs repayment(s) over the final months of the term:  all should then become clearer?
Include the complaint about not being called back and incorrect advice (if indeed it was incorrect) and delays in refunding if not incorrect.

TBH I'd not be entirely surprised if a DD payment had been called by NW from Lloyds for Tuesday 26th August 00:01 some 3 to 4 working days before that... Mon 25th D1, Fri 22nd D2, Thu 21st D3... So the last DD repayment could have been included in their calculation.  Potentially.  However Solicitors regularly redeem mortgages as a part of house selling and buying; so it seems 'odd' to say the least that a future DD (that could bounce) would be included as a repayment redeeming the Mortgage in full on an earlier date.

Unless you'd been checking redemption figures for more than 4 weeks you'd not have made a repayment via DD so not seen the balance 'drop', so months rather than weeks of checking would have been needed?

A DD taken in error could be recalled by your bank under the DD guarantee; and had you cancelled the DD on the Monday it would not have been taken anyway.

PS Do you not have access to the Mortgage Account historic statements - including the last one via online banking? Daft thing if not (but nothing Banks and other companies do surprises me any more). 

{I've kept my final printed statement from my HSBC Mortgage from September 2006.}

ACG

Having worked in call centres before, it would not surprise me if staff have got it wrong. 

But as mentioned a DD is set up to take around a week before it actually does go through on your statement. 

It is possible the redemption figure would include the DD payment, but not necessarily. 

Basically, the only people who can definitely answer are nationwide. But I cant imagine any of the staff being in on it to try and con you. There is no benefit to anyone in that and if it were a widespread thing they would be fined by the FCA. 

eschaton

I’d want to see the closing statement to review the figures. 

With redemption being so close to payment date there possibly wasn’t time to cancel the payment so it maybe was included. 

I repaid mines on 25/10/24 and it didn’t include the next payment as I’d estimated the final balance as I’d been tracking it for 6 months. 

My lender did take my DD on 1/11/24. I’m guessing it’s because it was already in the system to be processed but it was refunded within an hour or two.

I’d guess the payment bounced as the mortgage account was closed hence the quick refund.