First mortgage payment

gemsyuk03

So we are FTB, got our mortgage with Nationwide. The house has all gone through much quicker than expected. House price £237,000, we have put down £17000 with a mortgage of £220k...
The solicitors have said this morning that they think we may complete just before 1st Dec. We were hoping that it would be after December, as our November pay will be cover the last of the solicitors fees and were hoping that our first mortgage payment would be after our December pay. Anyone just bought with Nationwide - when is it likely our first payment will be?

Thanks in advance :-)

Dird

Weren't you given an option of the date?
I was given the choice when filling in forms (YBS) and chose the 1st regretfully :f

gemsyuk03

No we havent been given an option of date yet. Apparently Nationwide will write to us about 10 days of after we have moved in in of the first payment date.. so I hoping that will give us until the end of December!

libf

Nationwide payments are usually the 1st of the month. So if you move in in December then your first payment would be Jan 1st, to include the interest of the previous month and so larger than your regular payments.

Westbeef

I'm going through the application now, I chose what day it is myself and they add on the cost of the days before it onto the first payment. So your first payment may be £200-£300 more than a normal one.

sivs

Hello, I got my mortgage with Nationwide they wrote to me about my first payment. They took my first payment on the 10th which is my payment date but they pro rata the amount so my first payment was more...

Hope that helps

gemsyuk03

Thanks for all your replies - really helpful. Just hope we wont move in on 27th Nov for example, and have to pay our mortgage on 1st Dec! haha. We will see :-)

Baby_Angel

We bought in Oct 2013. We were asked to choose the payment date (chose the 28th). However our first payment was on the 1st of December. It was the mortgage monthly repayment for December AND the interest payments for Oct-Nov. So it was bigger than the usual. They sent a letter stating when the payment will be and how the payments are made of.

Baby_Angel

gemsyuk03 wrote: »

Thanks for all your replies - really helpful. Just hope we wont move in on 27th Nov for example, and have to pay our mortgage on 1st Dec! haha. We will see :-)

I am sure they won't. I felt like they gave us adequate time and information before the first payment was actually taken out.