Hi all,
Having a slight panic and wondered if someone can advise. Our current mortgage deal ends today at midnight. We have agreed a new deal with another lender a couple of months ago, all approved and ready to go. In my naivety, I assumed the new payments to the new provider would start as of tomorrow (payment goes on the 1st currently and is set to do the same with the new lender) but having just spoken with our mortgage advisor he's said that it may not complete tomorrow as our current provider has been slow to provide the redemption statement. This will mean a payment of about £400 more than expected, due to the current rate ending, being taken out of my bank. He said that once it completes and the new lender takes over that should get refunded but no idea on timescales...
my issue is that that £400 is pretty much our shopping budget for the month, not to mention if the new lender takes a payment too it's going to make other outgoings bounce.
Does anyone have any advice/ or experience in this? Stressing 