First mortgage payment - Santander

SuboJvR

I thought it only polite to update this now that I know the answer for myself, in case anyone else is wondering...

We completed with Santander on 3/11/17. I've just called to confirm what happens, and the first mortgage payment is going out on my chosen date of 1/12/17. This payment is less than our standard payment, as Santander are collecting our account in arrears and their "month" runs from the 1st of the month.

All of the paperwork I received up until this point was incredibly vague with no confirmation of exactly how the first payment would work. I had wondered if we would pay, in our case, interest for nearly all of November plus a standard payment on the 1st December. Fortunately not the case, and very helpful when we had to have 5 weeks of overlap with our rented property in order to avoid "gambling" on when to give notice.

I think therefore that Santander being a bank, former building society must follow the bank "trend" for mortgage collection!

mallen

Hi,
I am also starting a mortgage with Santander and looking to complete the Friday 27th April. My question is will the first months mortgage payment be due 4 days later on the 1st or May or will they set it to the 1st June?

Obviously I'd prefer the 1st June as it would give me more time to save a little extra before moving in.

Thanks

Mike