📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

First mortgage payment - when will it be due?

Options
We are completing on a property tomorrow. We have set up the mortgage to come out on the 2nd of every month. The mortgage is with Abbey. However, no one has told us when we will have to pay our first whole month's mortage payment. Does anyone know?

Thanks.

Comments

  • Abbey might know.
    ...............................I have put my clock back....... Kcolc ym
  • jill2002
    jill2002 Posts: 272 Forumite
    Your first payment is payable a month after completion, so as you have selected the 2nd of the month to pay, your first payment will be 2nd May and it will be for a full month plus a couple of days interest.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • It will probably be on the 2nd of May and will slightly more than your standard payments as it will include the extra couple of days from completion up until the 2nd April.

    However Abbey will send you a letter confirming the exact amount and when it will be due way before the first payment
  • Thank you SO much - Abbey have been incredibly slow with letting us know anything!
  • sarah_elton
    sarah_elton Posts: 2,017 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Phone them and they'll be able to confirm the exact payment amount for the 2nd May.
  • System
    System Posts: 178,349 Community Admin
    10,000 Posts Photogenic Name Dropper
    I had the same thing, turned out I got a "free month" when I got my mortgage which paid for my sofa :) the first payment was a month and a week after I moved in and was higher than usual as it was for a longer period.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • ohmochraich
    ohmochraich Posts: 220 Forumite
    In my case - my house purchase completed on Jan 30th and my first payment came out on the 9th Feb. Dont known why it came out so quickly (someone told me they give you 28 clear days but obviously not).
    :rotfl:If it weren't for stress I'd have no energy at all. First rule of acting: Whatever happens, look as if it were intended.;)
    Don't follow in my footsteps, I walk into walls:smileyhea When in doubt .............mumble.
    I may look busy, but I'm just confused.:T I smile because i have no idea what's going on.:rotfl:
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.