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Completion date for reMortgage - monthly vs daily
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benpmoody
Posts: 1 Newbie
Hi, I'm currently moving to a new mortgage and the legal forms say:
"We will arrange to complete as soon as possible...
If your existing lender charges interest monthly would you like us to delay completion until the end of the month (or choose a completion date)?"
I don't really know the pros and cons of this. I'm pretty sure my current mortgage provider does charge interest monthly (Birmingham Midshires, interest only mortgage) and the payment goes on the 25th of the month.
Should we be aiming to complete on 25th, before 25th, end of the month or does it make no difference?
Thank you in advance
Ben
"We will arrange to complete as soon as possible...
If your existing lender charges interest monthly would you like us to delay completion until the end of the month (or choose a completion date)?"
I don't really know the pros and cons of this. I'm pretty sure my current mortgage provider does charge interest monthly (Birmingham Midshires, interest only mortgage) and the payment goes on the 25th of the month.
Should we be aiming to complete on 25th, before 25th, end of the month or does it make no difference?
Thank you in advance
Ben
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