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First Mortgage Payment
RandomGuy87
Posts: 74 Forumite
Hi all
Due to complete on 18th July and have request that DD for mortgage is taken on 24th of each month.
I've searched and read through a few previous posts - am I correct in saying that the first month DD will be the expected amount plus interest for 6 days (18th to 23rd) of the month?
Due to complete on 18th July and have request that DD for mortgage is taken on 24th of each month.
I've searched and read through a few previous posts - am I correct in saying that the first month DD will be the expected amount plus interest for 6 days (18th to 23rd) of the month?
0
Comments
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It depends on whether a direct debit will be set up in time. There is a weekend in that time period (23/24). Your first payment may not be until August.0
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It varies from lender to lender. You need to know your specific lender's process.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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