First Off Happy New Year to everyone!
Has anyone experienced the following problem before? We are switching our mortgage from AIB to Ulster Bank and after lengthy delays we finally got word from Ulster Bank before Christmas (21st) that they have released the money. However, probably due to Christmas holidays, the money is still not in our account - it's probably with the solicitors still. But we then received a second letter from Ulster Bank stating that we are being charged €240 in interest for the mortgage for the month of December - which means that as our AIB mortgage has not yet been paid off in full we are paying interest on two mortgages! Surely this is not fair on us - but who is culpable? Can Ulster Bank charge us interest as soon as they release the money, not when we actually receive it? Or is it the solicitors we should complain to for not transferring the money to our account and closing off our AIB mortgage in time?