Is this my mortgage payment or is it a fraudulent withdrawal on my account ?

Daryl_worried

Hi all,

Brand new to the forums so please excuse if i do anything wrong regarding posting etc. . .

I have just sat down at my desk at work and checked my santander online bank statement and there has been a direct debit come out which at first glance looks like my first mortgage payment, my first payment is however now due for 3 Weeks!! My new mortgage is with santander also but on the statement it says "SANT MTG LTD 90345234635" and the payment is for £803.99 which is nerely TWICE the amount of what i was expecting! it just seems very weird for it to come out as sant mtg Ltd ? and for double the amount . . . I cannot telephone santander for another 4 hours as thats my next break and was hoping someone could confirm this is the same as what it says on their statement and that this is definately my mortgage payment which has come out! If someone else both banks with santander and has a mortgage with them could you be so kind as to confirm what the direct debit comes out as on your statement as im pretty worried and cant wait 4 hours to phone them, my boss is not exactly the thoughtful type and theres no way heel give me 20 mins off to ring them. :mad::mad::mad:

Thanks in advance for any help

Daryl

drjones

As a Santander mortgage customer my direct debits come up as "DIRECT DEBIT PAYMENT TO SANTANDER MORTGAGE REF

---

, MANDATE NO 0011" from my Santander 123 account.

It's highly likely it's Santander, but there's no harm in checking. If they've made a mistake they'll refund it very quickly as they're required to do under the direct debit guarantee.

One thing to bear in mind is that first mortgage periods are generally larger because they tend to cover the first whole month and any extra time remaining from the month of completion.

BlaEm

I bank with Santander, on my statement it shows as DIRECT DEBIT PAYMENT TO SANTANDER MORTGAGE REF [XXXXXXXXX], MANDATE NO 0001 - the redacted numbers are my mortgage account, suggest you redact from your post, too.

You should also be able to see your mortgage account on your online account, although not any transactions.
If you can see your mortgage account - it will show the balance, and the next repayment amount.

It's not uncommon for the first payment to be more than the normal payment, depending on when your completion date falls. However as you pay mortgage payments in arrears rather than in advance it seems very unlikely that it would be double the amount.

Were there any arrangement fees etc due on completion that would be added to the first payment?

firebird082

Re the amount - our first mortgage payment (not santander) was much higher because it included all the initial interest and fees etc. Do you mean it came 3 weeks before you were expecting? Ours went about 6 weeks *after* I expected!

G_M

Does the account number match?

As others have said the firts payment is usually larger.

But as it's a DD you don't eed to worry. Under the DD guarantee scheme, if it is fraudulent you can recliam it via your bank with no difficulty.

Check with S when you get time.

clarky_cat

Our first mortgage payment was also a lot more than it will be going forward.

Daryl_worried

Hi guys! Thanks ever so much for your immediate help this forum it great. I suddenly had a case of "needing the toilet" and called santander from the gents LOL. I have spoken to them and everything is all above board they have confirmed as you all have said the first payment includes interest and charge etc and the payment was taken by them.

Thanks once again for your help you all deserve a medal for the help you give, i will be looking around these boards from now on for any help i can provide myself.

Thanks again

kingstreet

Were you told it would be three weeks away or did you assume that?

Former building societies collect in advance, where clearing banks collect in arrears as with a loan payment.

This catches people out as they assume it's always the latter.

Accrued interest from the completion date, to the month-end also appears to be little discussed by lenders when they are "giving advice."

vuvuzela

kingstreet wrote: »

Were you told it would be three weeks away or did you assume that?

Former building societies collect in advance, where clearing banks collect in arrears as with a loan payment.

This catches people out as they assume it's always the latter.

Accrued interest from the completion date, to the month-end also appears to be little discussed by lenders when they are "giving advice."

HSBC, when I took out the mortgage I've got, sent me a letter stating exactly what the payments would be including the first (larger one as above) and explained why it was larger, that it was due to interest etc, calculated from the completion date. They were excellent IMO.