I think iv made a mistake and am looking for advice.
Im doing a 3 way mortg switch at the moment.
Bank 1 = received cashback
Bank 2 = drawndown, awaiting cashback
Bank 3 = about to drawdown
Bank 1 sent me a letter today to say that €174k had been paid off the mortgage but that a "small balance remained". When i phoned them they said it was about €550. This is approx 1 months capital repayment as my monthly mortg is about €800.
Bank 1 are sending me an exact redemption figure by post.
Im a bit confused about how to resolve this so any advice please would be very welcome.
Maybe its the final mortgage payment that needs to clear this? Alternatively, and i dont have the figure just to hand right now, I suspect the mortgage amount i applied for varied slightly between bank 1 and bank 2 i.e €174k versus €175k. Could this have caused the small remaining balance?
Let me know any questions either.
Thanks
Jim
Im doing a 3 way mortg switch at the moment.
Bank 1 = received cashback
Bank 2 = drawndown, awaiting cashback
Bank 3 = about to drawdown
Bank 1 sent me a letter today to say that €174k had been paid off the mortgage but that a "small balance remained". When i phoned them they said it was about €550. This is approx 1 months capital repayment as my monthly mortg is about €800.
Bank 1 are sending me an exact redemption figure by post.
Im a bit confused about how to resolve this so any advice please would be very welcome.
Maybe its the final mortgage payment that needs to clear this? Alternatively, and i dont have the figure just to hand right now, I suspect the mortgage amount i applied for varied slightly between bank 1 and bank 2 i.e €174k versus €175k. Could this have caused the small remaining balance?
Let me know any questions either.
Thanks
Jim