Why would a mortgage payment change?

[theblame]

I can’t ask the mortgage company as they’re closed over the weekend…
checked my bank account tonight and I’m on a fixed rate ending 13th October. In the process of switching to a new lender and due to complete on that date
my mortgage is usually £385. Today they’ve taken £490
anyone more adult than me that has an idea?

Your fixed rate has ended and you’ve been changed to a variable rate?

Shouldn’t be, it ends on the 13th October which is why I’m so puzzled

they've charged you for the month - at your fixed rate until 30th, then at their SVR until the end of the month. You'll get a refund when it's paid off when you switch to new lender

Ah ha…. I didn’t know they did that! See this is an adult thing I should have known. My mortgage can’t be managed online so I couldn’t check anything
glad it wasn’t a full month at least

I think most people don't really think about this! When you sign up for a mortgage, you're signing up to 20/30 years whatever and the fixed rate for the first few years is just like an introductory rate before it moves to SVR. So your current bank just goes ahead charging you every month until the mortgage is paid off, either by you or by your new lender. It will sort itself out but not ideal if you weren't expecting it!

Well they’ve got back to me saying it won’t be refunded?

Hi

You will not be entitled to a refund.

We will receive a redemption figure request, calculated up to the date we expect to receive the redemption funds to close the account. This figure will include the October payment already received