Nationwide first payment

manc2005

You will get a letter in the post to confirm when they will take your first payment.

I completed on 28th September and got a letter last week telling me that they will take the first payment on 16 October and then the first of each month thereafter.

gazareth

For the record, in case anyone is searching on these things, we completed on 31st October, paid our normal monthly payment +£60 mid-November, and then started paying normal monthly payments from 1st December.

cmorrison6

My completion date is the 24/05/13 . I assumed that my first payment would be on the 28/06/13 (which is the date i chose) with the normal monthly payment plus interest for 24th-30th? Or am i way off the mark?

Thrugelmir

cmorrison6 wrote: »

My completion date is the 24/05/13 . I assumed that my first payment would be on the 28/06/13 (which is the date i chose) with the normal monthly payment plus interest for 24th-30th? Or am i way off the mark?

Plus interest 1st - 27th or at least something along those lines.

cmorrison6

Thrugelmir wrote: »

Plus interest 1st - 27th or at least something along those lines.

Could you break it down please?

I assumed my first payment would already include the interest from 1st-27th of june as you pay your mortgage a month in arrears?

Therefore the first payment would be "standard payment" plus the interest for the remainder of may?

TrickyDicky101

cmorrison6 wrote: »

Could you break it down please?

I assumed my first payment would already include the interest from 1st-27th of june as you pay your mortgage a month in arrears?

Depends who your mortgage is with as Nationwide repayments are made "in advance", not in arrears.