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When is the first mortgage payment due
Comments
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You've just bought a house and you don't think you'll be able to make your first mortgage payment?0
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papalimabravo wrote: »You've just bought a house and you don't think you'll be able to make your first mortgage payment?
I appreciate the concern and I apologise if that is the impression I gave. This is not the case. I am just ensuring funds are available in the right accounts at the right times.
C*F0 -
Chocolate*fish wrote: »I appreciate the concern and I apologise if that is the impression I gave. This is not the case. I am just ensuring funds are available in the right accounts at the right times.
C*F
Thats what i understood your concern was ! As i've already said we have just changed our lenders and we were concerned as to when the first payment and how much was going to come out of our bank account, as we dont keep a spare grand floating in our current account ..... and didnt want to start off our new mortgage with a declined direct debit!0 -
picardygirl wrote: »Thats what i understood your concern was ! As i've already said we have just changed our lenders and we were concerned as to when the first payment and how much was going to come out of our bank account, as we dont keep a spare grand floating in our current account ..... and didnt want to start off our new mortgage with a declined direct debit!
Thank you! I was beginning to worry that I was the only person who didn't keep copious amounts all in one place!
C*F0 -
We were asked by our lenders what day we wanted our payments to come out and we chose the 30th of the month. We completed on 13th November and our first payment came out on the 30th November0
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So reporting back... post call with lender (first direct)
They are unable to take a payment in the first 21days after completion.
At time of arrangement, I requested that they take payment on the 5th of each month.
So if I was to complete on 22nd October...
First payment will be on the 5th December with a greater amount of my payment going to repayment rather than interest payment.
FD will notify of how much of the amount I will pay each month will go towards interest and what will be going towards the repayment, 10 days before the payment day (as I am on a offset mortgage deal)
C*F0
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