Mortgage payment

tigger123_2

Morning all

I wondered if anyone knows a rough answer to the following before i contact our bank-

Hopefully completing on our new house next friday 4th Dec. (currently have Halifax mortgage and new Mortgage will also be with Halifax), do you know when our first mortgage payment will be due on the new house?

We currently pay around the 15th i think at the moment

thank you

Wagesbird

It will be 2 weeks after completion.

opinions4u

tigger123 wrote: »

I wondered if anyone knows a rough answer to the following before i contact our bank-

Given the number of different mortgages out there, and individually tailored deals, a quick call to the person who arranged your mortgage is probably the best way to get an accurate answer!

Hopefully completing on our new house next friday 4th Dec. (currently have Halifax mortgage and new Mortgage will also be with Halifax), do you know when our first mortgage payment will be due on the new house?

They will probably collect initial interest for December on the 18th December. I would then expect the January payment and all future payments to be on the 4th of each month.

Unless it's an interest only mortgage, in which case it will be the 1st (or first working day after).

We currently pay around the 15th i think at the moment

Halifax are quite flexible with payment dates. If you ring them a week or so after completion they will let you make the payment on any date between 1st and 28th of the month (or, for their own current accounts, the last day of each month!).

You are paying interest on a daily basis though, so it will effectively cost you slightly more to pay later in the month.