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FTB Completion next week. When is first payment due?
jinkssick
Posts: 1,323 Forumite
Hi, I am due to do completion next week Friday 22nd March. Im I right in thinking my first mortgage payment will be 01 May? Is this by direct debit or I standing order like my rent was?
I am not that young so have set my stool out financially beforehand, and understand a plethora of fees maybe incoming, but still budgeted to start overpayments (will be under 10% penalty) and want it to reduce capital (not next months payment). Do I speak to mortgage provider about this or I top up the normal payment?
Sorry, I am confused. Thanks
I am not that young so have set my stool out financially beforehand, and understand a plethora of fees maybe incoming, but still budgeted to start overpayments (will be under 10% penalty) and want it to reduce capital (not next months payment). Do I speak to mortgage provider about this or I top up the normal payment?
Sorry, I am confused. Thanks
Save saynoto0870.com in your favorites, and stop giving companies more £££ dialling 0870 numbers when you can dial freephones or cheaper alternatives
call your credit card company, tell them that you want to leave, 99% of the time theyll lower your APR%
Remember when that Bank Manager or Salesperson smiles at you, all he sees is £ notes. Dont forget the motto, "the wider their grin, the more debt your in"
call your credit card company, tell them that you want to leave, 99% of the time theyll lower your APR%
Remember when that Bank Manager or Salesperson smiles at you, all he sees is £ notes. Dont forget the motto, "the wider their grin, the more debt your in"
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Comments
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Sorry forgot to thank the many who have contributed in one small way or another for me to get on property ladder. From not knowing the backend of an ISA or % rates 13 years now! Thank you all.Save saynoto0870.com in your favorites, and stop giving companies more £££ dialling 0870 numbers when you can dial freephones or cheaper alternatives
call your credit card company, tell them that you want to leave, 99% of the time theyll lower your APR%
Remember when that Bank Manager or Salesperson smiles at you, all he sees is £ notes. Dont forget the motto, "the wider their grin, the more debt your in"0 -
How on earth could anyone here know?
Ask your lender.0 -
It'll be the 1st unless you've agreed a different payment date. Be aware that the first payment will probably be a bit higher than the following months. I would think you'll have set up a direct debit when you applied for the mortgage.
My mortgage is with the Halifax and you can overpay via online banking. It's really easy.How on earth could anyone here know?
Ask your lender.
Good point! Didn't stop me having a guess though.0 -
Possible accrued interest from completion to completion month-end.
Possible first payment in advance (if building society or former building society)
Possible first payment in arrears (if clearing bank).
You need to ask your lender which it uses.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.0 -
Halifax actually issues a guide with each mortgage offer;-shortcrust wrote: »It'll be the 1st unless you've agreed a different payment date. Be aware that the first payment will probably be a bit higher than the following months. I would think you'll have set up a direct debit when you applied for the mortgage.
My mortgage is with the Halifax and you can overpay via online banking. It's really easy.
Good point! Didn't stop me having a guess though.
https://www.halifax-intermediaries.co.uk/pdf/info-about-your-mortgage_10_.pdf
See page nine (14/41)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.0
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