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first mortgage payment?
zipwen1
Posts: 257 Forumite
hi just signed my contract to buy, and was wondering when my mortgage co would be taking the first payment and around about how much this will be. i would look at my offer but the soliciter has it, been trying to call her all day.
are repayment is £725pm at a rate of 5.89%
we have two dates that we may be moving in on (down to our buyer) the first is the 29th of this month and the second is 15 of feb could someone please help and give me a rough idea of when and how much will be taken based on these dates.
desperate to know becouse we have a shortfall to make up and i want to make sure we have enough money when we move in
are repayment is £725pm at a rate of 5.89%
we have two dates that we may be moving in on (down to our buyer) the first is the 29th of this month and the second is 15 of feb could someone please help and give me a rough idea of when and how much will be taken based on these dates.
desperate to know becouse we have a shortfall to make up and i want to make sure we have enough money when we move in
0
Comments
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I am not an expert but would expect your lender to take 1st payment at the start of the next full calendar month.
If you moved 15th Feb I would expect you would pay (15th Feb-28th Feb)+ full payment for March. I would calculate this as £362.50 + £725 so £1087.50?!
I hope this helps for now but your lender will advise the exact payment schedule (dates & payments) soon!
JtA0 -
thanks was confused as to whether we would pay half of the mortgage for 15th-28thfeb or whether we would just be paying the interest, don't ask me why i got that idea into my head.0
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For my mortgage (Nationwide) I only have to pay the interest part for the period before the first complete month.0
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it varies depending on the lender, you need to check on the offer really. who's the lender?0
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