Debit Interest on HSBC mortgage

josh100_2

Just a quick question...

I've owned my first house since the last week of May, and I have an HSBC mortgage. Today the first mortgage payment has gone from my current account into my mortgage account.

At the same time as my first payment has been paid into my mortgage account, quite a lot of money (about £150 less than my payment amount) has been paid out as 'Debit interest'. Can anyone clarify whether I would be paying the same amount in 'debit interest' every month, or is this just because it's my first payment?

Many thanks.

Baz_2

josh100 wrote: »

Just a quick question...

I've owned my first house since the last week of May, and I have an HSBC mortgage. Today the first mortgage payment has gone from my current account into my mortgage account.

At the same time as my first payment has been paid into my mortgage account, quite a lot of money (about £150 less than my payment amount) has been paid out as 'Debit interest'. Can anyone clarify whether I would be paying the same amount in 'debit interest' every month, or is this just because it's my first payment?

Many thanks.

That's interest for June and the last week of May. I would have thought your July interest will be roughly 20% less than that.