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Halifax Mortgage Payments
kirtsypoos
Posts: 3,826 Forumite
Hi all,
I'm hoping for a bit of advice/help here.
We were aiming to exchange and complete on our house by 13th November, however have just been told it is possible sooner and we want to make sure we understand the impact this will have on our mortgage payments.
We have set our mortgage payment date as 1st of the month (so anticipated out first mortgage payment would be on 1st December and just over 1.5 times the normal amount, however I'm confused by how it would work if we went for say 2nd November - would it still be taken on 1st December at about 2x time normal amount or would there be an interim payment?
We have the funds in place either way, but I like to have everything keyed into my budget calculator so I know exactly where I stand before the month begins.
Thanks in advance!
I'm hoping for a bit of advice/help here.
We were aiming to exchange and complete on our house by 13th November, however have just been told it is possible sooner and we want to make sure we understand the impact this will have on our mortgage payments.
We have set our mortgage payment date as 1st of the month (so anticipated out first mortgage payment would be on 1st December and just over 1.5 times the normal amount, however I'm confused by how it would work if we went for say 2nd November - would it still be taken on 1st December at about 2x time normal amount or would there be an interim payment?
We have the funds in place either way, but I like to have everything keyed into my budget calculator so I know exactly where I stand before the month begins.
Thanks in advance!
Let’s just pretend I have not been alternately drowning in debt or only eating toast to try and pay it off for the last 20 years 😭
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Comments
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I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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You'd need to speak to the lender.
If the payment was to come out on December 1st then you wouldn't pay 2x the normal payment because the first 28 days you'd have the funds you'd only pay interest on, you wouldn't pay capital for that month.
As above though, you're best off asking the lender directly.0 -
Thank you both
Lee I have emailed our broker but since we got the mortgage offer he is very slow to respond to any queries so I thought might be quicker to post on here.
kingstreet I knew I'd seen it in the mortgage info booklet but I couldn't see it!Let’s just pretend I have not been alternately drowning in debt or only eating toast to try and pay it off for the last 20 years 😭0 -
Please have your broker split a share of his fees with Kingstreet.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I wonder if that guide is still issued with the mortgage offer?
It seems a bit pointless if it is, going off the number of times this question comes up on here.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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