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Mortgage payment - advance or arrears

(10 Posts)
noitsnotme Fri 21-Apr-17 17:51:50

The purchase of my flat is due to go through on Monday 24th. (I already live in the flat). My mortgage will be with Halifax and I have asked for payments to be taken on 26th of each month.

Can anyone tell me if I'm likely to have my first payment come off on the 26th April or is that too soon? If it doesn't come off until 26th May, will I pay one months arrears, plus one month in advance, or just one month in advance? Hope that makes sense to someone!

MrsPnut Fri 21-Apr-17 17:53:02

It's usually in arrears. We completed on 1st may and our first payment was taken on 31st may.

Hullabaloo31 Fri 21-Apr-17 18:01:21

You might have a random first one too, our first one had so e extra on it, was 1.5 times normal payment.

noitsnotme Fri 21-Apr-17 18:02:24

Thanks both.

What kind of extras? Or was it just pro rats?

noitsnotme Fri 21-Apr-17 18:02:43

Pro rata, sorry!

AlbusPercival Fri 21-Apr-17 18:04:31

Call the mortgage company they will tell you

Jellybean85 Fri 21-Apr-17 18:04:53

Mine was random, took a while to go through so I loved their for 6 weeks before paying a penny!
It was pro rats too, no extra fees just proportionate the mortgage for how long I'd lived there

Jellybean85 Fri 21-Apr-17 18:05:03

Congratulations

peukpokicuzo Fri 21-Apr-17 18:07:30

There need to be 10 working days between the dd being set up and the date of first payment so it will probably be 26th may.
It will probably be for more than the normal amount to account for the fact that it covers 33 days of payment rather than 30.

noitsnotme Fri 21-Apr-17 18:13:20

Thanks all; very helpful. I should hear from my estate agent on Monday to confirm, so I can confirm with him then, hopefully.

And thank you Jellty grin

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