Halifax first payment - when will it come out?

hvictoria2000

Hi everyone 

i need a bit of advice from anyone who has had a Halifax mortgage. I know the first payment is always higher but I just want to know roughly when it would come out so I can budget for it. 

I am due to move into the house on 19th December. When I rang Halifax they said the first payment would come out on 1st Jan. this would be fine but they are quoting my first payment at £700 MORE than my regular mortgage payment. Does this sound right? 

Any advice would be great!! 

dimbo61

Your paying not only the monthly mortgage payment but also the extra interest that will build up from the day the mortgage money is transferred into your solicitors account and used to buy the property along with your deposit till the normal payment date.
I am guessing if you divide £700 by 12 days you will get your daily interest cost 

K_S

hvictoria2000 said:

Hi everyone 

i need a bit of advice from anyone who has had a Halifax mortgage. I know the first payment is always higher but I just want to know roughly when it would come out so I can budget for it. 

I am due to move into the house on 19th December. When I rang Halifax they said the first payment would come out on 1st Jan. this would be fine but they are quoting my first payment at £700 MORE than my regular mortgage payment. Does this sound right? 

Any advice would be great!! 

@hvictoria2000 From the Halifax mortgage guide here https://www.halifax-intermediaries.co.uk/pdf/info-about-your-mortgage.pdf