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Changing DD date?

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  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    graemewh wrote: »
    thats not the problem at all!!

    I am married and we get paid at the end of the month and have a standing order set up to transfer X amount into our joint account to pay for the mortgage this goes in immeadiatley but they take the money out before the transfer is made (they took it out the 7th of the month for the fiorst instalment which was fine)

    If the money is transfered immediately at end of month then there is no problem the payment can go out any time in the following month.

    Jan pay pays Feb mortgage, Feb pays March etc.

    Looks like you are trying to make Jan paymnet with jan pay and were lucky the payment was taken late the first time.

    When is the contractual payment date for a month?

    Using SO same day for the transfer is risky if you get paid late.


    as was said to change the date from end of month to begining might involve an extra payment or interest adjustments which you can achieve by just leaving an extra payment in the joint account where the mortgage comes from.

    Best to have a buffer in that payment account to avoid any payment issue due to delays or money taken early.
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