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uzubairu

AdamBrunt wrote: »

Just got a text from enact saying the anticipated completion date is the 7th September

Question is ... how do find I out the exact payment schedules for the remortgage in terms of how much I might have to pay my current lender (and when) and how much (and when) the first payment will be for FD ?

Enact sort all that out.

The day after completion, we got a statement from Enact and one from First Direct confirming the actual amount loaned and the start date for the first payment.

I then rang FD to confirm the amounts.

AdamBrunt

It's the first payment date with FD that 'worries' me.

We currently pay the mortgage on the 1st of the month (so we have just paid Halifax £700+).

Hopefully FD won't be wanting any money this month and hopefully Halifax won't be taking anymore either ?

uzubairu

AdamBrunt wrote: »

It's the first payment date with FD that 'worries' me.

We currently pay the mortgage on the 1st of the month (so we have just paid Halifax £700+).

Hopefully FD won't be wanting any money this month and hopefully Halifax won't be taking anymore either ?

The day after we completed our re-mortgage, our old mortgage details/statements were unavailable on the Nationwide website.
I then phoned FD to confirm when the first payment was due, as the first payment date was October and I was expecting a payment in September.

I was informed that the first payment date was 3rd October and that no payments were due on the mortgage before then.

So this month's planned payment can go in as an overpayment or we can spend it on something else which is a nice surprise.

AdamBrunt

My worry is that, if FD completes the remortage next week ( as they are currently planning ) then it is not infeasible for them to take the first payment this month as well.

luckyfool

uzubairu wrote: »

The day after we completed our re-mortgage, our old mortgage details/statements were unavailable on the Nationwide website.
I then phoned FD to confirm when the first payment was due, as the first payment date was October and I was expecting a payment in September.

I was informed that the first payment date was 3rd October and that no payments were due on the mortgage before then.

So this month's planned payment can go in as an overpayment or we can spend it on something else which is a nice surprise.

Errr not really. Your first payment with FD will include interest for September so it will be much larger than normal. I would be keeping hold of your September payment so you can afford to pay your mortgage in October if I were you.

uzubairu

luckyfool wrote: »

Errr not really. Your first payment with FD will include interest for September so it will be much larger than normal. I would be keeping hold of your September payment so you can afford to pay your mortgage in October if I were you.

Just phoned them to check again.
I asked them why I didn't have a September payment and whether the mortgage starting figure would increase by a month's interest before we started paying it off or if we would have to make a double payment in October.

I was told that the payment for October 3rd will be the same (£581).

I was told that the figure of £73,064 was what the mortgage would be at the start of October.

The mortgage was completed too late (24/08/10) for it to start on the 1st of September (he mentioned 21 days notice), so they have accounted for that in the £73,064.

I've made several calls to FD enquiring about this (and keep getting the same answer) , and all I can do now is wait and see what happens next month.

As a MFW, I would always be cautious and I regularly overpay so I have no worries in that department.

AdamBrunt

Spoken to FD and their first payment will be taken on 1st October - which is a relief

They were cagey about how much the payment would be both in terms of (a) they don't yet know the final loan amount [ which is understable ] and (b) whether October's payment will be more than future payments because it might contain the interest for 3 weeks in September.

deanos

Mine seems to have come to a standstill, on the Enact site it said completion due 16/8/10 just come back off holiday and had no messages or anything.

Temrael

My hold up appears to be the drive-by valuation, it was requested on the 19th of August and I have been charged, but no news on the valuation being completed yet.

deanos

My drive by valuation was done a couple of days after i had the phone interview