Best to complete last or first day of the month?

akaLadyK

I know it all works out the same in the end, however I would like the cheapest initial outlay possible.

In terms of bills and first mortgage payment?

Thanks

xxmrksxx

Hi,

I was advised by a Mortgage Advisor yesterday, if you complete within 14 days of your agreed payment date, the payment would come out the following month.

Hope this helps.

julieb1987

We were told our mortgage payments start the month after we move. The payment date will be 3rd of the the month so if we move in after the 3rd, we won't pay until the next month. What date have you set your repayments for? Aldo you pay pro-rata so your first payment is only from the date you moved in up until your 1st repayment date. So will only pay half if you're there for 2 weeks

akaLadyK

Thanks for replying. So repayment starts on the day you say but prior to that you are paying interest? So if we chose payment on the 30th but had moved in on the 15th we would pay 15 days interest then a months repayment?
That's why our first installment is 50% more than our usual payment then.

Does anyone know how it works for utility bills?

Fire_Fox

Varies with the lender, ask yours.

LandyAndy

akaLadyK wrote: »

Thanks for replying. So repayment starts on the day you say but prior to that you are paying interest? So if we chose payment on the 30th but had moved in on the 15th we would pay 15 days interest then a months repayment?
That's why our first installment is 50% more than our usual payment then.

Does anyone know how it works for utility bills?

You pay for what you use from the day you move in;). That can be half yearly when you get your bill or by monthly instalments based on estimated usage. The meters in your area will be read on the same day (ish) every six months (ours are the first week of April and October) so your first bill will cover the period from move in date to first reading.