FTB; first month's mortgage repayment due when?

westy_1981

hi all

i am getting close to exchanging and completing on my first property and trying to get all the finances in order. Can anyone tell me; if we complete middle of October, when will I make the first repayment on my mortgage? Will it be straight away, or will there be a few days grace, or will it not be due until the following month ie Nov?

Thanks in advance

donkey1969

It's usually 14 days after, we completed on the 15th Sept and our 1st payment is due in the 1st Oct, don't forget the first months payment includes extra interest between the comp date and 1st payment date, our normal monthly repayments arte approx £395 but first payment will be £524

KarenBB

Congratulations on buying your 1st house. Different lenders have different arrangements for payments. Who is your new mortgage with?

HeavyHorse

Hi all, FTB here too. I am also interested in this. I Exchange contracts on 10th October and due to complete on 28th.

My mortgage is with Halifax, does anyone have am idea when 1ST mortgage repayment will be due?

Mike