Redemption Statement

[pintsizedblondie]

We are remortgaging and moving to a different company and today have received our Redemption Statement. On it, I noticed that it said there was a £999.99 amount to be returned to us by cheque. Can anyone explain why we are receiving money back as I have no clue why with it being the first time we have done this.

Many thanks.

Presumably the mortgage redemption quote was for a specific date and the transaction has actually happened at a different date. Rather than change everything and hold things up, they refund you the difference. It's an amount you have technically overpaid them.