Nationwide Payment Due Date?

mysk_girl

Does anyone know when the payment is due? I had a feeling that it was the end of the month - i.e. as long as you made one payment per calendar month, they would be happy.

The issue is that I am in the process of changing bank accounts and my mortgage payment didn't go out today as it should have done from my Nationwide Flex Account to my Nationwide Mortgage. I am, of course, now terrified that we are in arrears, but also think that we aren't late, per se, until the end of September, which obviously gives us loads of time to sort this out.

There are sufficient fund in the Nationwide Flex and also in the new account with Lloyds, should they choose to take it from there despite being told not to. Also it is not a direct debit, it's a standing order so I thought it wouldn't go across automatically?

I have heard lots of tales of things going awry with the switching services so am keeping a pretty close eye on both accounts at the moment, all my other September DD's are now paid from Nationwide so I have nearly a month to make sure they are all swapped over properly.

So, back on topic, am I correct that our payment is not late until the end of the month? Nationwide not open until 8am tomorrow...

emmatthews

If it's a standing order, then you send the money rather than the bank taking it. Have you cancelled your standing orders / DD's from your old account? If not, there should be no reason it didn't go if there were sufficient funds.

Personally, I would send the payment today. The bank will not try and take the money from either account if it is a standing order, they can only do that for a DD. Whilst they do only look for one payment per calender month, it is due on a specified payment date and anything after that will be regarded as late as far as I am aware.

GMS

If it was due today why not phone up and pay it?

Why would you want to potentially risk arrears which could cause you issues in the future?

Call Nationwide for clarification on the payment dates, they have the answer.

Radionotme

I'm 90% sure it's calendar month. As others have said, best to get proper clarification on that though.
What I would say though is that as interest is calculated daily, then if you're late, then your payments are going to change - whether this is doen automatically or not is something you should look into, especially if you're on interest only.

KarenBB

No need to panic at all, as long as you make a payment each month Nationwide don't mind what date you pay on.

I've got 3 mortgage accounts with Nationwide, original account and 2 further advances.

The further advances are paid by DD from my flex - slightly strange though as it's actually an internal transfer not a DD, it still means that N'wide request the money just like a DD but it doesn't show on my list of DD's, if there's not enough money in the flex they don't try and take it so there are no charges for rejected DD's on either my flex or my mortgage but if payment wasn't collected and I didn't make a payment to keep the account up to date at some point in the kmonth I'd end up with arrears charges on the mortgage. The other quirk is that if payment is due on the 6th it isn't taken until very last thing at night. If I checked my account now my DD's for the 6th would have left the account but my mortgage payment wouldn't show until after midnight.

I pay the original mortgage account manually as there was a problem with pay days years ago, I was told then as long N'wide receive payment by the end of the month there wouldn't be any arrears.

I don't think they'll take a payment over the phone as technically you wouldn't be in arrears until October. If a payment hasn't been taken I'd check which account they've got the payment set to collect from and what date. If they're not going to collect this month do a transfer from the account you want to make the payment from.

Sorry to have rambled so much, hope it makes sense

KarenBB

Radionotme wrote: »

I'm 90% sure it's calendar month. As others have said, best to get proper clarification on that though.
What I would say though is that as interest is calculated daily, then if you're late, then your payments are going to change - whether this is doen automatically or not is something you should look into, especially if you're on interest only.

I pay on any random day in the month and my required payment doesn't change. As interest is charged daily the earlier you pay in the month the less interest you pay ovrall on your mortgage but I'm sure a few days one month will make very little difference. On that note must go and transfer some money to make this months payment as I was away on the 1st

mysk_girl

GMS wrote: »

If it was due today why not phone up and pay it?

Why would you want to potentially risk arrears which could cause you issues in the future?

Call Nationwide for clarification on the payment dates, they have the answer.

Because at the time I posted, it was after 8pm so I couldn't get through as they are closed. I would have called and either paid or got clarification if I could have done! I've had the mortgage for 18 months and there has never been a problem with the payment before, I just happened to be looking at my account last night and noticed it hadn't gone. I hadn't done anything to the SO's or DD's apart from start the switching process with Lloyds.

KarenBB wrote: »

No need to panic at all, as long as you make a payment each month Nationwide don't mind what date you pay on.

Great to know, I phoned them today and it is going today at midnight apparently. Although I thought I had set it up for the 5th, it is actually the 6th shown on the account, which is odd - I normally am scrupulous about payment dates and I'm sure I said the 5th!

But anyway, it will be going today from my Flex account.

They also confirmed that I will need to set up a new payment from Lloyds as the internal transfer won't transfer across as it is not a proper direct debit, although they do the calling for it, not me sending it. But loads of time to do that, Septembers payment is made, so technically not one due until end of October.

Thanks for help.