Missing £60k Mortgage Redemption Payment

Gene_Genie

Hi (please bere with me as it's my first (2nd actually I think 😬) post)......Paid off my Nat West mortgage of around £60k back on 15th April 2026. After a week or two I hadn't received any formal confirmation. Rang them up and was told I would not receive deeds etc to my property as all electronic now. Then started receiving text messages saying that I had missed my mortgage payment, then an email, then a letter. Contacted NW through their app (30th May) and was told that in fact my payment had been declined (15th April) and in fact I still owed the £60k! Obviously I was horrified and it caused me considerable stress and worry. I contacted my bank from which I'd made the payment and was told, yes, the payment had deffinatly gone through. Relayed this to NW through their online chat again (which they advise). They then said the payment may have been mislaid and that they'd "go the extra mile" to sort it out and that I "wouldn't recieve a penalty fee"! Clearly I was meant to be grateful!.........Anyway, still not sorted, so I have made an official complaint through their app/site, including asking for compensation. Thinking of escalating it to the Financial Ombudsman if I don't get a satisfactory outcome............

Is this a common occurrence? Am I getting overly upset about it? Or am I right in being angry and upset with the whole fiasco and am I taking the correct path in trying to resolve it? 🤷🏻

Many thanks in anticipation

edinburgher

Definitely doesn't sound like a common occurrence and I think you're taking the right steps to rectify it. I would be apoplectic! Fingers crossed for a sensible outcome.

kingstreet

Did you obtain a redemption statement from NatWest telling you the redemption figure on the intended repayment date; together with details of how to make the payment and the receiving account details?

ACG

I dont know if you have a right to be angry or not - did you ask them how to make the payment and where to?

If not, then I would say you probably should have - if for no other reason than it being £60k (also when making large payments to new places, I normally do a pound and then the difference).

When I used to work for RBS/Natwest, occasionally people would use incorrect details to make payments and it would end up in a suspense account. Once it was worked out where that money needed to go, it would be assigned to the account in question and back dated to the date it hit the suspense account.

Boohoo

https://forums.moneysavingexpert.com/discussion/6670558/missing-60k-mortgage-redemption-payment

Not sure if money laundering comes into it but paying £ 60k into an account would that not need to pass some sort of check along the way?

I would let the complaint run it's course and then decide what to do.

The complaints procedure will be on NatWest website with timeline.

Or maybe someone somewhere has £60k extra in their account that they don't know about.

Gene_Genie

https://forums.moneysavingexpert.com/discussion/comment/82022891#Comment_82022891

Redemption certificate obtained, figure made clear, payment was made via correct channel. Mortgage has now been confirmed as settled with no suggestion of a mistake on my behalf. As mentioned, official complaint made and if need be will go through the Financial Ombudsman.......

Gene_Genie

Appears to be just a rather major error on their behalf, how I don't know. Around 50 days between me paying the redemption figure and NatWest acknowledging it (in fact of course last week they told me the payment hadn't gone through) 🤷🏻

user1977

including asking for compensation.

Have you suffered any losses?

ACG

https://forums.moneysavingexpert.com/discussion/comment/82024039#Comment_82024039

What are you expecting from the complaint?

I assume there are no losses. They might (if they choose to) give you £50-100 as a goodwill gesture. But even if it goes to the ombudsman, they can only compel the lender to cover your losses, nothing more.

Gene_Genie

https://forums.moneysavingexpert.com/discussion/comment/82024063#Comment_82024063

Yes. My mental health. They told me that I had not paid and they had not received the 60k, (over 6 weeks after I had made the transaction), which I knew had left my account. I haven't even received an apology.

Isthisforreal99

https://forums.moneysavingexpert.com/discussion/comment/82024196#Comment_82024196

I think you know people were meaning actual financial losses.

As has been said you may get a small amount of 'go away' money but going to the FOS won't get you any more and ironically would probably have a negative effect on your MH.