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nationwide 1st mortgage payment

due to exchange and complete on 10th May, and suggestions when my 1st mortgage payment would be debited - ie May or June ( I believe it will be higher than normal monthly amount as it will also include from the 10th to end of the month )

Comments

  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Isn't it explained in your mortgage offer? Most lenders make it a larger than normal payment on the second payment day after completion.
  • jjmmww1
    jjmmww1 Posts: 136 Forumite
    Seventh Anniversary 100 Posts Name Dropper
    Your get a letter after completion saying how much your first payment is.

    We completed December 4th had a letter a week or 2 after for first payment Jan 1st 450ish more than normal payment
    Mortgage 165,065/183,000

    Credit card cleared Oct 2024
  • Dancer11
    Dancer11 Posts: 51 Forumite
    10 Posts
    I completed with Nationwide on 25/03 and my first mortgage payment was taken on 9th April, approx £71 more than my agreed monthly payment. 
    My second mortgage payment will be taken on 1st May. 
  • MovingForwards
    MovingForwards Posts: 17,161 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    It will be detailed in your T&C's as to when they will take the first payment and how it will be calculated. Unfortunately, it won't say how much as the T&C's are standard for everyone taking that product.

    There will be enough information for you to do a rough calculation.
    Mortgage started 2020, aiming to clear 31/12/2029.
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