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  • FIRST POST
    • bbasra
    • By bbasra 10th Jan 18, 8:55 AM
    • 90Posts
    • 6Thanks
    bbasra
    NATWEST - Interest to Anticipated Redemption Date ?
    • #1
    • 10th Jan 18, 8:55 AM
    NATWEST - Interest to Anticipated Redemption Date ? 10th Jan 18 at 8:55 AM
    Guys,

    Can anyone explain Natwest's Interest to Anticipated Redemption Date ?

    They've added a charge of 852.67 which they say equates as follows from 16th November to 11th Jan

    daily interest @ 2.02% Fixed - 12.10 x 46 Days
    daily interest @ 4.49% SVR - 26.90 x 11 Days

    however, I've already paid my monthly mortgage payments which included interest?

    Many thanks in advance.
Page 1
    • YHM
    • By YHM 10th Jan 18, 8:58 AM
    • 645 Posts
    • 247 Thanks
    YHM
    • #2
    • 10th Jan 18, 8:58 AM
    • #2
    • 10th Jan 18, 8:58 AM
    When was your last payment date on your Natwest mortgage?
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • davidmcn
    • By davidmcn 10th Jan 18, 8:59 AM
    • 10,919 Posts
    • 12,025 Thanks
    davidmcn
    • #3
    • 10th Jan 18, 8:59 AM
    • #3
    • 10th Jan 18, 8:59 AM
    and on what date was the redemption statement issued?
    • bbasra
    • By bbasra 10th Jan 18, 3:59 PM
    • 90 Posts
    • 6 Thanks
    bbasra
    • #4
    • 10th Jan 18, 3:59 PM
    • #4
    • 10th Jan 18, 3:59 PM
    When was your last payment date on your Natwest mortgage?
    Originally posted by YHM
    15th December was my last payment date. 15th Jan is the next one however, trying to complete 11th.


    Redemption statement is dated 5 January 2018.
    • Jamesellward
    • By Jamesellward 11th Apr 18, 6:22 PM
    • 2 Posts
    • 0 Thanks
    Jamesellward
    • #5
    • 11th Apr 18, 6:22 PM
    • #5
    • 11th Apr 18, 6:22 PM
    Hi did you get any further with the redemtion charge
    • Jamesellward
    • By Jamesellward 11th Apr 18, 6:23 PM
    • 2 Posts
    • 0 Thanks
    Jamesellward
    • #6
    • 11th Apr 18, 6:23 PM
    • #6
    • 11th Apr 18, 6:23 PM
    I have just been given mine and the same thing has happened with me. There is a section with the amount for aniticipated interest i though i paid my intrerest on my monthly payments
    • Thrugelmir
    • By Thrugelmir 11th Apr 18, 7:51 PM
    • 62,877 Posts
    • 55,845 Thanks
    Thrugelmir
    • #7
    • 11th Apr 18, 7:51 PM
    • #7
    • 11th Apr 18, 7:51 PM
    Interest will be charged in arrears, i.e. on the outstanding balance.
    "The most dangerous thing is to buy something at the peak of its popularity. At that point, all favourable facts and opinions are already factored into its price and no new buyers are left to emerge." - Howard Marks
    • 73Jonathan123
    • By 73Jonathan123 16th Apr 19, 5:04 PM
    • 110 Posts
    • 123 Thanks
    73Jonathan123
    • #8
    • 16th Apr 19, 5:04 PM
    • #8
    • 16th Apr 19, 5:04 PM
    Hi,
    I'm confused by this one too. Not sure I'm clear on the answers. I'm looking to pay off the last 800 on my mortgage but the redemption notice has come in with a charge of 299.91 for this 'Interest to Anticipated Redemption Date'. My last repayment was 22 on the 21st March. Can anyone explain the maths to me please? I thought I would be paying off 800, not 1099.91.
    • Thrugelmir
    • By Thrugelmir 16th Apr 19, 5:33 PM
    • 62,877 Posts
    • 55,845 Thanks
    Thrugelmir
    • #9
    • 16th Apr 19, 5:33 PM
    • #9
    • 16th Apr 19, 5:33 PM
    There'll be a mortgage redemption fee to pay. Perhaps this is included within the figure quoted.
    "The most dangerous thing is to buy something at the peak of its popularity. At that point, all favourable facts and opinions are already factored into its price and no new buyers are left to emerge." - Howard Marks
    • 73Jonathan123
    • By 73Jonathan123 16th Apr 19, 6:46 PM
    • 110 Posts
    • 123 Thanks
    73Jonathan123
    Thanks, but if it's a redemption fee why is it called 'Interest to Anticipated Redemption Date'. Legal Jargon?
    • Thrugelmir
    • By Thrugelmir 16th Apr 19, 8:55 PM
    • 62,877 Posts
    • 55,845 Thanks
    Thrugelmir
    Thanks, but if it's a redemption fee why is it called 'Interest to Anticipated Redemption Date'. Legal Jargon?
    Originally posted by 73Jonathan123
    Laziness in preparing the statement possibly.

    What's your current mortgage product. Any conditions attached.
    "The most dangerous thing is to buy something at the peak of its popularity. At that point, all favourable facts and opinions are already factored into its price and no new buyers are left to emerge." - Howard Marks
    • 73Jonathan123
    • By 73Jonathan123 16th Apr 19, 9:30 PM
    • 110 Posts
    • 123 Thanks
    73Jonathan123
    It's a capital and interest mortgage. Interest rate is 4.24. There's no early repayment penalty as I was tied in until Dec 31st last year. Repayments are currently 22.95 a month.
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