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Query -- Mortgage Payments
kasu_78
Posts: 23 Forumite
Hi,
I got my offer from halifax and following point was mentioned in the offer...
"THIS OFFER ASSUMES THAT THE MORTGAGE WILL START ON THE 16TH JUNE AND THAT PAYMENTS WILL BE MADE ON THE 1ST OF THE MONTH."
as my solicitor still working on my case, i might not be able to do contracts exchange by 16th june! does this mean that i have start paying my mortgage installments by 16th ?
thanks in advance
I got my offer from halifax and following point was mentioned in the offer...
"THIS OFFER ASSUMES THAT THE MORTGAGE WILL START ON THE 16TH JUNE AND THAT PAYMENTS WILL BE MADE ON THE 1ST OF THE MONTH."
as my solicitor still working on my case, i might not be able to do contracts exchange by 16th june! does this mean that i have start paying my mortgage installments by 16th ?
thanks in advance
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Comments
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No. It says 'assumes'. It needs something to base it on, so it chooses that date.
You start paying interest from your completion date. Sometimes funds might be drawn in error if exchange and completion were set close and it doesn't happen, but really, 99% of the time, the mortgage funds are drawn down on completion day.Everything that is supposed to be in heaven is already here on earth.
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thank you for your info ....0
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My offer from the Halifax says the same date! Perhaps they like the 16th for some reason?0
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And mine. Their computers must like the 16th!0
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hehe, I completed on the 16th (May) and will be paying on the 1st of the month, first payment not coming till July 1st. This will be 1 whole months normal payment, (June) and also an additional 2 weeks interest.Hi,
I got my offer from halifax and following point was mentioned in the offer...
"THIS OFFER ASSUMES THAT THE MORTGAGE WILL START ON THE 16TH JUNE AND THAT PAYMENTS WILL BE MADE ON THE 1ST OF THE MONTH."
as my solicitor still working on my case, i might not be able to do contracts exchange by 16th june! does this mean that i have start paying my mortgage installments by 16th ?
thanks in advance0
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