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What happens if mortgage payment date falls on a weekend?
PrincessLou
Posts: 503 Forumite
So, we're about to make our first mortgage payment (due on the 30th) which just so happens to fall on a Sunday. My question is will the payment be taken on the Sunday or will it be taken out the next working day (Monday)?
If it helps we bank with HSBC and our mortgage is with HSBC also.
If it helps we bank with HSBC and our mortgage is with HSBC also.
Mortgage - £105,500
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Comments
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Why do you think it may not be taken of the previous Friday? I don't have mortgage now so can't remember, but sure it was the previous Friday, my council tax is the same.0
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Does anyone with a HSBC mortgage know?Mortgage - £105,5000
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I have a First Direct mortgage which is part of HSBC,and when mine falls on a weekend it always goes out on the monday.(even when its due sat).
If you have online banking check it in the morning. I cant see it going out on a sunday,but not 100% sure.0 -
I have an HSBC mortgage, not 100% sure but I think it may come out early sometimes when the due date falls on a weekend we never really worry too much as pay is always in a few days before. I suggest asking them to take mortgage payment 4-5 days after your usual pay day to avoid worry in this sort of situation.:j Trytryagain FLYLADY - SAYE £700 each month Premium Bonds £713 Mortgage Was £100,000@20/6/08 now zilch 21/4/15:beer: WTL - 52 (I'll do it 4 MUM)0
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What is the payment method?
In the case of direct debits, it should be the first business day after the due date. It's worth bearing in mind that in the case of some banks, NatWest being one, Saturday is actually part of Monday for clearing. That means payments due in or out on a Monday will actually show up on Saturday and will alter your cleared balance accordingly.
If it's some form of inter-account transfer, you need to ask the lender.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
We have our current and mortgage account with https://www.if.com and they take our mortgage payment on the same date every month by internal transfer regardless of day it may be...ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 20270
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