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    • leew
    • By leew 9th Feb 18, 12:00 PM
    • 592Posts
    • 70Thanks
    leew
    Redemption/Completion statement Confusion
    • #1
    • 9th Feb 18, 12:00 PM
    Redemption/Completion statement Confusion 9th Feb 18 at 12:00 PM
    Morning all

    Please can anyone try and answer this please.

    Here goes! Our fixed mortgage has now ended and we are remortgaging with Tesco with an agreed 93,000

    Tesco's solicitors have emailed me the redemption statement and its 92,410.29 according to Natwest.

    I have some fees mentioned - 48 total so surplus monies is 541.71 which is lower than I thought.

    Here's why I think its incorrect, mortgage as of today stands at 92,154.12 and we have agreed 93,000 so the above is wrong surely or is it not that simple?

    Thoughts please?
    Last edited by leew; 09-02-2018 at 12:06 PM.
Page 1
    • Thrugelmir
    • By Thrugelmir 9th Feb 18, 12:04 PM
    • 58,967 Posts
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    Thrugelmir
    • #2
    • 9th Feb 18, 12:04 PM
    • #2
    • 9th Feb 18, 12:04 PM
    Accrued interest to the date of completion needs to be taken into account. Interest is charged in arrears on a monthly basis. You need to add daily interest to the figure that I'm assuming you are looking at online.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • leew
    • By leew 9th Feb 18, 12:10 PM
    • 592 Posts
    • 70 Thanks
    leew
    • #3
    • 9th Feb 18, 12:10 PM
    • #3
    • 9th Feb 18, 12:10 PM
    Thanks, not that simple then! I assumed it would be closer to 900 the surplus.
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