Using 1st as mtg payment date -additional cost
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I'm suggesting you could ask Nationwide to set up a DD for the mortgage.
A direct debit just means you've given an institution permission to take a certain amount of money from your account.
Not sure I could ask Natwide to setup a d.d.from my rbs account i.e. non natwide account.Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb0 -
That's how direct debits work.
you tell NW your RBS account number and they help themselves to your money
why not answer the questions that might help understand the £5.0 -
Have you any spare cash?
I've told this story before, but a long time ago I was paid on the second last working day of the month and the mortgage payment was due that month. I couldn't guarantee that my salary would be in before they tried to take a direct debit and a standing order wouldn't get there in time. It gave me months of niggling anxiety, with me or my wife withdrawing cash from the bank and paying it into the building society.
As soon as I could I found enough cash to make a full months extra payment and moved the monthly payment to the beginning of the month instead of the end.
What had been a worry and a waste of time that I didn't have every month just disappeared.
A DD should certainly be possible - but talk to them. You could possibly use your reserve to make an additional payment. The 28th isn't in my view a complete answer, with public holidays and weekends possibly still missing the month end cut-off.
What I did gave me a whole month to play with and as interest will be on a daily rate you will save a small amount of interest on it.0 -
this is the key as it amounts to overpaying/paying early which reduces interest
if payment are due 28th then the 28 Feb payment has to move towards the 1 Feb not into March.
same with the current move back to the 28th the payment has to be a earlier not later.
Changing probably won't change anything as the under/late payments have happened, to get the +£5 changed it will most likely need an overpayment.0 -
I think the make an additional ‘pverpayment’ in advance is possibly the correct answer.
Makes sense if I have a full payment held in rbs account around or a day or two before 28th.
I thought that’s what my overpayment reserve was being used for once or twice since going part time.
Although cra;s are not reporting any missed mtg payments, Natwide is seeing what they are advising are one or two missed payments- what I was seeking is my mtg amount being debited once or twice from my overpayment reserve.
Got the your payments are changing.
Examples-a different date
Reversed transaction
Adjustment being made.
Missed payments
Used overpayment reserve-Which I did once or twice.
Anyway my payments are chaning from 264
To new payment 269.08
44117.45
2.49f ixed 2 yrs since Aug17
Looks like on re reading this tonight -the fact i used my overpayment reserve once or twice -is 1 of the examples used by Natwide for this additional charge/re calculation or balance.
I hosnestly hope this provides enough info for mser’s lots of advice -it’s my responsibility to make sure payments are available on time.Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb0 -
If you had a couple of months where you did not make the mortgage payment and it was taken from the reserve instead then that would explain why your monthly payment now has to increase to ensure that the mortgage is paid off in the time planned.0
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using the reserve is underpaying if the monthly payment has already taken account of the overpayments.
£44117 @ 2.49% £264pm 206 months to pay it off
£44117 @ 2.49% £269pm 201 months to pay it off
that' quite lot to have got behind.
whats the full term.
what were the details before and after you switched in Aug.0 -
Full term 25 yrs since Sept 2009getmore4less wrote: »using the reserve is underpaying if the monthly payment has already taken account of the overpayments.
£44117 @ 2.49% £264pm 206 months to pay it off
£44117 @ 2.49% £269pm 201 months to pay it off
that' quite lot to have got behind.
whats the full term.
what were the details before and after you switched in Aug.
My previous payment was 5 yr fix@think 5.19% or 363 per month -I was paying 400 per month for approx 2-3years.
I intend to re start medium overpayments, though not at 400 mark yet-maybe 350 (inlcuding the 269)Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb0
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