Anyone with Lloyds remortgage first payment experience/timings?

Jonboy1889

I’m about to remortgage with Lloyds on Monday 30th May (coming from NatWest)

my payment date is 1st of the month- do you think Lloyds will turn it round in time for then or will there be a delay? I know Lloyds are the best people to answer here but just wondered if anyone had any experience.

the DD isn’t showing yet in my current account- i had always assumed it took several days to set up a DD- just wondered if anyone had experience 

simon_or

Don't know if Lloyds is any different from the rest, but if not there'll definitely be a delay of at least a week or two between completion and the first payment being taken. There's no way it's going to happen on the 1st after completing on the 30th.

CarterUK73

In my experience, lenders would usually adjust your first payment so that you’re up-to-date. For example, you complete on 30th May and your usual payment date is the 1st of every month. I’d think the following month (July) would be your first payment and it’d include a “catch up” amount. The lender should write to you letting you know how much it would be and then the amounts of your usual payments.

Jonboy1889

CarterUK73 said:

In my experience, lenders would usually adjust your first payment so that you’re up-to-date. For example, you complete on 30th May and your usual payment date is the 1st of every month. I’d think the following month (July) would be your first payment and it’d include a “catch up” amount. The lender should write to you letting you know how much it would be and then the amounts of your usual payments.

Great, thank you- and that catch up amount would include just the interest from the first month + a normal payment or would it be 2x full payments?

CarterUK73

I’d think, only because you’d be completing a day or two before your usual payment date, it could well be just about 2x full payments on 1st July. That’s if they don’t take a payment on the 1st June or sometime in June if they’ve set up the direct debit. They should write to you to tell you what is due and when they will take it.

mrsmsebastian

Jonboy1889 said:

I’m about to remortgage with Lloyds on Monday 30th May (coming from NatWest)

my payment date is 1st of the month- do you think Lloyds will turn it round in time for then or will there be a delay? I know Lloyds are the best people to answer here but just wondered if anyone had any experience.

the DD isn’t showing yet in my current account- i had always assumed it took several days to set up a DD- just wondered if anyone had experience 

Im with Lloyds and I completed on March 30th, I set up my dd on the 1st of the month.

They taken the first payment plus interest on 11 of April.
The next full payment was taken on 3rd of May and June payment was taken exactly on the 1st.

Hope that helps.