Direct debit advice

lorac3

:j I am in the position to make a FINAL payment to my mortgage with C&G on Monday:j . What I want to know is that I have the final figure to pay before 1st April and this is the day that the normal direct debit leaves my HSBC account, so I have bumped up the amount to what I owe so will they receive it on the same day as it leaves my account ?
Does any kind soul know ?

thecotswolds

If you asked C&G for a settlement figure they would have sent you a letter confirming the amount and how to pay. I think you can pay by cheque or over the counter at any c&g or Lloyds TSB branch. Your standing order will take about 3 days to get to C&G. The figure will include interest up to the end of March. I suggest you cancel the DD and make payment by 31st March.

The balance may not be the same as the redemption amount, to avoid extra hassle or interest I would give them a call on Friday and clarify what procedure to follow.

Mikeyorks

As previous post ... you should not rely on them taking a settlement figure as a DD. Unless they have specifically advised they will do so (under the DD terms they can't just vary the sum without prior arrangement) .... which I think unlikely.

Cheque / counter / BACS ?? ... have a look at the documentation you received.