What time does mortgage get taken out?

ben_sewell

Hi Everyone,

My November mortgage payment is due on the 30th of November. At the moment i'm changing jobs and i usually get paid on the 15th of each month so paying the mortgage is no problem. However my new work will not pay me until the 30th of the month, this is the same day the mortgage gets taken out.

I'm just wondering what will happen. My bank account will know that my wage will be going in but i don't know if the mortgage payment will try to be taken out before my wage goes in?

Does anyone have any ideas? My bank account is with RBS and my mortgage is with Stroud and Swindon?

If the mortgage gets taken out before my wage goes in it will surely fail? So maybe do i need to put some more money into my account to definately make sure the mortgage is going to get covered and then change the direct debit date? Stroud and Swinton said that i cannot change the direct debit date? Is this a load of crap?

All answers will be greatly appreciated?

Many Thanks, Ben

puddy

is the payment on 30th november, Novembers payment or Decembers payment?

if it is Novembers, you may have to negotiate with them and either pay one extra via phone (from savings?) and then change the standing order date with your bank so that Decembers comes out on the 1st Dec (and so on) which is after your November pay

If the payment is for December, then just change your payment date. I wouldnt use a DD, use a SO

ben_sewell

Thanks for that. The wife gets paid on the 15th so i'll only have to put a little bit towards it and then change the DD date to the 18th of each month. This way both wages will be in so mortgage should be no problem. Just a pain to move some savings over for time being.... Nevermind i do have some thank god!

Thanks for the Info!

TEDDYRUKSPIN

Tip! You can change the direct debit mandate date! But that particular month could be more for one month.

ben_sewell

I thought so i though they were playing cheeky beggers. They were trying to force me down the SO route because they take the payment out on the 30th so it has a months worth of interest i'm sure.

ben_sewell

How easy is it to change the DD? This might be the easiest option for me. And do they have a right to refuse the change in payment date?