When will mortgage payment be due?

[kate123cl]

Hi all,

We're due to move into our first family home this Wednesday coming (15th). My question is, as we move half way through the month, will we...

A) Have to pay half of our mortgage payment at the end of this month and then a normal month payment at the end of next month?

B) Have to pay for this half month plus a full month at the end of next week?

C) have to pay for this half month and all of next months payment at the end of this month?

Hope that makes sense, so new to this stuff and it's a mind field!

You just need to ask the mortgage provider, it could be either option.

Most common option would be if they charged you on 1 august for 6 weeks, then every 1st of the month from then on in.

Or you could just pay it on the 15th every month - yeah you need to ask them.

We pay on the 14th of every month because that’s the date we moved. It was like this with the previous mortgage too.

I'm moving in the next couple of weeks and I have chosen the first of the month for my mortgage payment to be taken. So even if I move 20th July, I will just pay normal monthly payment on the 1st August. It's not like you are getting any time for free as you might if it was a rental. You are paying back a loan and the interest will start from the day of completion.