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Interest in advance?
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EverDecreasingCircles
Posts: 6,915 Forumite
We've just remortgaged with Northern Rock and they're charging the interest in advance. I've not noticed this happening with our previous mortgages (maybe we just missed it!).
Is that the norm, to pay interest a month in advance? They want a payment for the first half month by cheque then the next full payment will come out of our bank account in April.
Jen
Is that the norm, to pay interest a month in advance? They want a payment for the first half month by cheque then the next full payment will come out of our bank account in April.
Jen
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Hiya, NR charge interest in advance. First full months payment is due the 7th of the month following completion and theres usually an amount to make up from completion date . If you don't pay this - many people forget, it gets added to the redemption statement when you leave. Monthyl payments revert to 1st monthly for the second full payment onwards.Number 86 - Stole a car from a one legged woman... I'm just trying to be a better person0
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