First mortgage payment help!

Ruggers13

16Carriages said:

housebuyer143 said:

16Carriages said:

TheSpectator said:

16Carriages said:

kingstreet said:

Mortgage amount x mortgage rate = annual interest / 365 = daily interest.

EG £150,000 x 4.5% = £6,750 / 365 = £18.49 per day.

Thanks my daily rate according to this is 3,672.99 which is astronomical 

And must be wrong. What is your mortgage amount and rate?

After deposit £266,000 and 5.04%

£37.09 a day.

How did you get that? 

You did *5.04 in your calculator. 5.04% expressed as a decimal is 0.0504 

housebuyer143

16Carriages said:

housebuyer143 said:

16Carriages said:

TheSpectator said:

16Carriages said:

kingstreet said:

Mortgage amount x mortgage rate = annual interest / 365 = daily interest.

EG £150,000 x 4.5% = £6,750 / 365 = £18.49 per day.

Thanks my daily rate according to this is 3,672.99 which is astronomical 

And must be wrong. What is your mortgage amount and rate?

After deposit £266,000 and 5.04%

£37.09 a day.

How did you get that? 

Sorry, I used the rate 5.09%. it's actually, £36.72 a day 

Hoenir

16Carriages said:

Hoenir said:

16Carriages said:

Hoenir said:

What are your vendor's plans? Completion dates are often ultimately a matter of compromise between all parties involved. 

The vendor has caused the delays tbh.

The LPE1 has nothing to do with the vendor. That information is provided by external third parties. 

The seller solicitors did cause a delay with the LPE1 as we've been under offer since June and they only ordered beginning of October rather than ordering earlier...

There's zero chance of the sellers solicitor doing anything at the point of your offer. Leasehold property is notoriously slower to transact than a freehold one. Presumably first you had to obtain a mortgage. After which your solicitor requested the searches. At which point enquiries would have submitted.