We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
Completion date / current mortgage payment date question.
deejaybee
Posts: 922 Forumite
Hi all,
We were hoping to be able to complete on June 9, but this is now looking doubtful, we are porting our existing mortgage over to new property ( with Barclays )
Our current mortgage payment date is 16th of month, if we completed a week later than originally planned ( so also the 16th June ) would this potentially cause any issues ? Or just best to make sure have the current mortgage payment in the relevant current account to be on the safe side ? ( We pay the mortgage payment money into a Barclays current account from our "main" current account )
I am assuming the "old" mortgage will be cleared on completion date, but didnt want to risk having a "missed payment" on our file.
Thanks in advance
0
Comments
-
Recommended practice is to allow monthly payments to be taken - if you overpay you should get the refund almost immediately.2
-
Officially it sort of will, but systems take a few days to get through things. You usually won't be making the first payment on the new mortgage immediately, so it shouldn't cause any cash flow problems if you pay the old one for an extra month (and get it refunded when it closes a few days later) I hope?deejaybee said:Hi all,We were hoping to be able to complete on June 9, but this is now looking doubtful, we are porting our existing mortgage over to new property ( with Barclays )Our current mortgage payment date is 16th of month, if we completed a week later than originally planned ( so also the 16th June ) would this potentially cause any issues ? Or just best to make sure have the current mortgage payment in the relevant current account to be on the safe side ? ( We pay the mortgage payment money into a Barclays current account from our "main" current account )I am assuming the "old" mortgage will be cleared on completion date, but didnt want to risk having a "missed payment" on our file.Thanks in advance1 -
Thanks for the feedback both, appreciated.Yep i will make sure the funds are in the Barclays account.1
-
When the solicitor obtains the redemption statement it will confirm the assumed date of the last payment. You can usually take a lead from that.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.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.9K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.8K Work, Benefits & Business
- 619.7K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards