Mortgage Interest Calculation, help?

newcomb

I've just remortaged with Bank Of Scotland and have recieved a confirmation letter with my initial payments. The remortgage went through 04/07/06 and they want to take a payment on the 18/07/06 for £950 which covers the period 04/04/06-31/07/06. Ok I thought so I'm paying for 13 days interest in advance. They they want to start taking my full payments on the 01/08/06 which is approx £1000. This will mean I am now paying for the whole months interest in advance!!! This can't be right can it?
They said I can move my payment date to the 20th but I will always be paying for interest I have yet to accrue. In all my previous loans/mortgages I have only ever paid for interest after it has accrued.

Does anyone have any thoughts?

Thanks

Matt

Joe_Bloggs

@newcomb
This is pretty common if uncomfortable. I asked for a £1000 more than I needed when I remortgaged to cover for a similar situation. I also got an overdraft facility that was never used. It must be a shock to go from paying interest in arrears to paying interest in advance.
J_B.

newcomb

Many Thanks Joe_bloggs if I'd known I would have asked for more, as it is I'll have to find 2 payments for 1 month!!