I will try to keep this simple.
I am currently buying ex-partner out of a joint property. A further advance has been agreed by my current lender, all sorted, I am extending the term by a lot so even though I'm borrowing more I can manage on my own for the time being.
I am pressing for it all to go through on 31st of Jan, however on speaking to the lender today it is going to be a close call.
My question is, the next mortgage direct debit for the old mortgage as such is due to be paid on the 1st of feb, I am presuming this will come out.
What if the transfer goes through a day or two later?
What will I be due to pay? As my new payments were due to be 400 a month less, I was hoping to avoid the old direct debit as such, but as time ticks on, this is unlikely.
I hope this makes sense to someone, and you can help!
Thanks
I am currently buying ex-partner out of a joint property. A further advance has been agreed by my current lender, all sorted, I am extending the term by a lot so even though I'm borrowing more I can manage on my own for the time being.
I am pressing for it all to go through on 31st of Jan, however on speaking to the lender today it is going to be a close call.
My question is, the next mortgage direct debit for the old mortgage as such is due to be paid on the 1st of feb, I am presuming this will come out.
What if the transfer goes through a day or two later?
What will I be due to pay? As my new payments were due to be 400 a month less, I was hoping to avoid the old direct debit as such, but as time ticks on, this is unlikely.
I hope this makes sense to someone, and you can help!
Thanks