Changing payment date reduced direct debit amount

LilyBouquet

I put my direct debit date 3 days back yesterday, resulting in a slightly lower payment.

I’m now wondering if there is a day with a lowest payment, and how do I find it without making the adviser test out 31 options!

In any case, I will be remortgaging soon. But my question is, is there a ‘magic’ day for direct debits?

booneruk

This is just my guess, but presumably you're paying interest from a certain day of the month and that bringing the DD date closer to that results a one-off smaller amount being due on the first revised payment date. I would imagine you'd get a corresponding bigger payment amount the next month, followed by payments then falling to the same amount on months following that.