We recently moved house and got a trade up mortgage.
The new mortgage was issued, however last week two mortgage payments were taken by the bank – one for the old mortgage and one for the new mortgage. Our old mortgage account was supposed to be closed off before the new mortgage was issued.
This has left us with absolutely no money left in our bank account and with bills coming out and kids to feed we are under severe pressure.
I rang on Monday and queried it and was told that the account should have been closed, but wasn’t, and it was now in credit for the amount they took last week. I was advised that it would take a week to investigate, despite being told exactly what the problem was and how it needed to be fixed.
They have advised me that they will not be able to close the account until the end of this week and the money will not be refunded until the end of next week – meaning I probably wont get it until the week after next. This leaves me in serious financial trouble for the next week or two. I have had to pay the bills using my credit card – this is now at its limit so I do not have anything else to fall back on.
I do not seem to be getting anywhere with the bank despite numerous phone calls. Can they just hold onto 1000e of my money until they feel like giving it back? The money was taken on 6th July and looks like it will be gone for over 3 weeks before we get it back.
Does anyone have any advice as I just don’t know where to go from here.