FTB Q: First mortgage payment

DoubleOhScrimp

Good evening,

I'm completing on Friday 20 September. Have a Halifax mortgage @ 1100 pm. No idea when first payment will be due and how much will be due :eek:

Any ideas?

sulphate

Our lender sent us a letter informing us of when the mortgage payments would start and how much the first payment would be.

FYI we completed July 19 and started payments August 28. Our first payment was £667 and from now on our payments will be £529. That might give you some idea.

kingstreet

Best guess, a couple of weeks after completion and a month's payment plus interest from the date the solicitors draw down the money (20th?) to the month end.

It's a bit different since they changed to the "10/" numbering from the old "A/" days, but it won;t be far out;-

See 3C & 3D;-

http://www.halifax-intermediaries.co.uk/pdf/info-about-your-mortgage_10_.pdf

Kt8

hi- when you got your mortgage offer the 2 halifax mortgage booklets came with it- it says in there.
Depending on when you complete and when your preferred payment date was.

My friend completed the very end of the month and had a direct debit chosen date as the 1st of every month, her first mortgage payment came out in the first 2 weeks after completion.

We are completing on 27th sept- and our chosen direct debit date was 28th of every month- i have spoken with halifax mortgages and they have said it will be one month later first morgage payment will come out plus interest.

I would ring up mortgage department like we did and ask them for an example as they are really helpfull

kingstreet

Kt8 wrote: »

hi- when you got your mortgage offer the 2 halifax mortgage booklets came with it- it says in there.
Depending on when you complete and when your preferred payment date was.

My friend completed the very end of the month and had a direct debit chosen date as the 1st of every month, her first mortgage payment came out in the first 2 weeks after completion.

We are completing on 27th sept- and our chosen direct debit date was 28th of every month- i have spoken with halifax mortgages and they have said it will be one month later first morgage payment will come out plus interest.

I would ring up mortgage department like we did and ask them for an example as they are really helpfull

There are two versions of this guide, one for the original "A/" accounts, of which your friend's may have been one and the one for "10/" accounts, which yours almost certainly is.

They vary slightly, with the "A/" version having three sections, completion date 1 - 9, 10 - 17 and 18 - 31. The "10/" version I linked to, above.

Kt8

ahh thats the one yes!