Changing mortgage direct debit

[coffeeforone]

Does anyone know if changing either the date or the the bank account on your mortgage direct debit has any adverse effect on your credit score/mortgage account and future mortgage applications? Trying to sort our finances out a bit as we probably need to remortgage soon.

Currently the mortgage D/D goes out of my account on 1st if each month. It's 1700 which is a big bill and I get paid on 15th so not ideal. However DH gets paid on last working day so I'm hindsight the D/D should have been paid out of his account. So currently he sends me the cash when he gets paid to pay the mortgage then I send it back when I get paid to cover stuff that goes out of his account. There seems to be lots of big transfers between our accounts every which looks a bit untidy and might be difficult for a potential lender to unravel. Would you change the direct debit or leave as is until we remortgage?

I would set up a standing order from his account to yours in this instance for the right amount, the day after his payday, entitled 'mortgage'. Will make it clear. However, I would generally be moving to a joint account system which both salaries get paid into for bills, mortgage etc.

Thanks! Yes a joint account would make things easier I think!

We do have a joint account with some direct debits going out (council tax, utilities etc), it's DH's job to make sure it doesn't go overdrawn but he often forgets, so neither of us want to take responsibility for it really! So it would need to be a single joint account that both our wages go into and everything goes out of. Psychologically I don't know if either of us are a fan of this idea. Even though we do have a 'pooled' general finances, but maybe we should just bite the bullet and do it.

We have a shared account that’s only for bills. We worked out how much each needs to contribute and it goes in the day after payday. Then the bills come out when it suits them. Whatever is left is our own. Definitely easier than swapping money about.