Sorting out mortgage and bill payments

Fire_Fox

blckbrd wrote: »

Bit harsh OP. Responses may be unpalatable but that doesn't make them unhelpful.

As well as eing the Queen of Magnolia, I'm also the Queen of Should Have Dealt With That Sooner! I'm beginning to want FireFox to adopt me as the information/advice given always seems wise and practical.

Awww thanks everyone!

Milliewilly

Another point is being paid by cheque (through the post - delays?? then having time to take it to the bank?? ) you still have to let the cheque clear before you can draw on it this all needs to be factored in.

skivington

I had this problem when I had a joint mortgage, kept getting stung with charges due to money arriving late from different accounts. I eventually set-up a seperate 'bill payment' account and moved all SO's and DD's relating to the house into it, it was set up with an OD that would cover ALL the monthly out-goings which acted as a buffer, in reality the money went in and we always stayed in credit. It may not be the best return for your money but the interest on a few £100 is not much and if it protects you from charges and bad credit rating it is worth it in my opinion. Most banks will let you open an account with an overdraft to match the monthly cash flow, your other half will just need to pay any interest added if he is late paying in, but it should only be a few quid for each time and you will keep your credit rate intact and avoid unwanted charges.