First mortgage payment post completion Kensington mortgage

girlie1412

Looking for some advice, letter received is not very clear. My completion date was 29/7/21 got a letter today to advise that my first mortgage payment 29/7-31/8 will be taken on the 20/8 and after that every 1st in the month. 

Does that mean that on the 1/9 next mortgage payment will be taken as well? 

Thanks so much in advance 

[Deleted User]

yes. Augusts payment will be taken on 20/8 and Septembers payment will be taken 1st Sept.   

girlie1412

Deleted_User said:

yes. Augusts payment will be taken on 20/8 and Septembers payment will be taken 1st Sept.   

thank you for clarification. I was under impression that mortgage payments are always month behind unlike rent which is in advance.  

holmos95

Was your mortgage payment took on the 1st Sept in the end? I am currently in the exact situation and also thought mortgage payments are always a month behind

girlie1412

holmos95 said:

Was your mortgage payment took on the 1st Sept in the end? I am currently in the exact situation and also thought mortgage payments are always a month behind

Yes our mortgage payment was taken on the 1/9 again and first year mortgage statement shows overpayment equal to that payment taken in august. Hope this helps 

kingstreet

For future readers reference, most lenders take payments in advance, not in arrears.

If you complete in July, you'll usually make a first payment some time in August and first regular payment on your nominated date (if any) in September.