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Mortgage Start date
mysti77
Posts: 80 Forumite
Hi everyone,
Recently bought a house with my husband. Completion date was 15th November. Got a letter from Halifax yesterday with calculations of our first payment. It shows we have to start payments from the 13th November. I called to find out why we need to pay 2 extra days when we completed on the 15th and was told that they released the funds to our solicitor on the 13th so we need to pay interest from then. I spoke with our solicitor who said they requested the funds to arrive on the 14th. It's about 43£ for the two extra days (13th and 14th). May not seem like a lot but I am loathe to pay for two days before I even got the keys to our house! Is this right?
Thanks
Sasha
Recently bought a house with my husband. Completion date was 15th November. Got a letter from Halifax yesterday with calculations of our first payment. It shows we have to start payments from the 13th November. I called to find out why we need to pay 2 extra days when we completed on the 15th and was told that they released the funds to our solicitor on the 13th so we need to pay interest from then. I spoke with our solicitor who said they requested the funds to arrive on the 14th. It's about 43£ for the two extra days (13th and 14th). May not seem like a lot but I am loathe to pay for two days before I even got the keys to our house! Is this right?
Thanks
Sasha
0
Comments
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Would you have rather the mortgage money not got to your solicitor in time and therefore you got sued for not being able to complete on the day set?
It's standard to ask for the funds the day before completion, which your solicitor did.Currently studying for a Diploma - wish me luck
Phase 1 - Emergency Fund - Complete :j
Phase 2 - £20,000 Mortgage Fund - Underway0 -
Would you have rather the mortgage money not got to your solicitor in time and therefore you got sued for not being able to complete on the day set?
It's standard to ask for the funds the day before completion, which your solicitor did.
Which is fine, but why was it there 2 days before if my solicitor requested it for completion on the 15th?0 -
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I spoke with our solicitor who said they requested the funds to arrive on the 14th.
Your solicitors asked for the money the day before completion as they should. the 14th
Your mortgage lender decided to send the funds a day early. the 13thCurrently studying for a Diploma - wish me luck
Phase 1 - Emergency Fund - Complete :j
Phase 2 - £20,000 Mortgage Fund - Underway0 -
Where does it end then? What's stopping them sending the money a week before? If solicitor says completion date is 15th and send money 14th how is it ok for them to send it on the 13th thus charging for an additional day?0
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But your final mortgage payment date will also be 2 days earlier, so look on the positives, you'll be mortgage free 2 days earlier than you planned!0
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laidbackgjr wrote: »But your final mortgage payment date will also be 2 days earlier, so look on the positives, you'll be mortgage free 2 days earlier than you planned!
Unfortunately not, as the first payment is made up of 18 days interest only plus 1st month repayment.0 -
Some people also moan about the sky being blue0
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Some people also moan about the sky being blue
This is a MONEY SAVING forum, I am not MOANING. I am asking if it is right that they can start charging me £20something a DAY for a product I have not received and they have not been asked to send it as early as they did. Surely the point of a MONEY SAVING forum is for helpful people to advise if others are paying more than they need to not to get unhelpful comments0 -
I'm trying to remember back to my days with said bank and I think it is possible for the start date to be amended - however, if I remember correctly, a letter has to be sent to them by your solicitor requesting the start date is changed and giving the reasons why.
I'm not sure however if things have changed in the six years since I left - but it is worth asking0
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