First Mortgage Payment with first direct

KuchKuch Forumite Posts: 45

Forumite

27 June at 6:59PM edited 27 June at 7:06PM in Mortgages & endowments

My mortgage is being drilled down on Friday, but I was hoping here somebody could confirm a few questions I had as first direct seem to be giving me mixed messages:

My mortgage with first direct is being drilled down on 30th June, with completion on 3rd July. My prepared payment date is the 25th of each month. With this in mind, would my first payment occur on 25th July?
My mortgage illustration document states that I "will have 24 payment(s) of £2,798.86". Therefore will my first payment by £2,798.86 or will this be slightly different for my first payment? If so, does anybody know how I can calculate what my first payment will exactly be?

Thanks.

★ ★ ★ Meet your Ambassadors

MSE News

EDF Energy to cut bills for some by £30 this winter – Martin Lewis welcomes move but says 'it's not a game-changer'
EDF Energy will cut bills by £30 for some 260,000 of its customers who get the Government's Warm Home Discount this winter.
Martin and MSE among organisations calling for energy social tariff as millions expected to struggle with bills this winter
The Government must urgently introduce an energy social tariff to prevent millions of households from falling into fuel poverty this winter, consumer organisations including MoneySavingExpert have said.
Train strike refund rights as Northern, Southeastern, Thameslink and more set for week of disruption
Rail users in England, Scotland and Wales face disruption over the coming week as workers across multiple train operators, including Northern, Southeastern, Thameslink and more, take strike action and refuse to work overtime.
Mortgage rates fall as Bank of England unexpectedly holds UK rates – so should you fix?
Interest rates on fixed mortgage deals have been edging down over the past few weeks with some five and 10-year fixes now at below 5%. Mortgage experts have told MoneySavingExpert.com that further cuts are possible in the short-term after the base rate was held at 5.25% this month, following 14 consecutive rises.
Water bills to rise by less than planned from April 2024 as firms hit with £114 million penalty – here's what we know
Some water bills in England and Wales could rise by less than planned from April 2024, as 12 water companies have been hit with a collective £114 million penalty for missing targets on pollution, leaks and customer service.
Octopus Tracker energy tariff – could it save you £100s on your energy bills?
The Octopus Tracker tariff is not right for everyone, but if you're willing to regularly keep track of daily price changes, it could mean big savings.
Ocado shopper? Christmas delivery slots are launching this week – here's what we know
Ocado is opening up its first round of Christmas delivery slots this week.
Last chance: Stock up on standard first-class stamps before prices rise by 14% next week
You've got just days left to stock up on first-class stamps before prices rise by 14%. From 2 October, the cost of a first-class stamp will be hiked to £1.25 – but if you buy stamps at their current price this week, you'll still be able to use them later.
'Unfair' standing charges need to go: MPs back Martin's and MSE's calls for energy bill overhaul
Energy standing charges unfairly penalise households on lower incomes and those looking to cut their usage, a cross-party group of MPs have said in a new report published today.

View All

First Mortgage Payment with first direct

Categories