Completion date and mortgage payment date

[Knivesandforks]

When do you pay your mortgage? If we complete on the 18th and mortgage date is 20th do we pay the whole month's mortgage plus 2 days on 20th?
So if completion was 23rd and mortgage date 20th we would wait until 20th and pay almost 2 months or mortgage?

Go back and check your Mortgage offer. That should tell you exactly what you need to pay and when.

I'd check with your broker

Agree you should check your paperwork but in my experience from 3 moves, we haven’t been charged for the mortgage in the first month, but had 1 month + that portion of the first month the following month.

So - moved 15 September. No mortgage payment due on 1 October but charged roughly 1.5 months’ mortgage on 1 November.

Our mortgage offer has a sections detailing exactly how the first payment is calculated. So that’s your best bet.

@flipent it states the amount abd that its monthly installments but no date....

@Terrifyingface thank you- I'm presuming that.

Nothing in paperwork @mummymummymummummum

Have emailed broker....

It won't have the dates on the offer, but should have details on how the first two payments are split.

The offer can't have dates because you get the offer before you know your completion date.

Had my offer from Halifax a few weeks ago and it was very clear regarding first payments.

Ah no unfortunately not @flipent just the amounts

We had this in aug, paid mortgage 16th and completed 18th when the mortgage hadn't cleared yet. It got taken and then returned a week later by direct debit. We then didn't pay a mortgage payment until 6th Oct

When we first moved in, our mortgage offer stated that if we moved in 15th-31st a payment would come out on the 15th of the following month and then the 1st of every month thereafter. If we moved in 1st-14th the payment would be the 1st of the following month.

With this info in mind I agg ranged for us to put our completion date as the 1st November in order to not make a payment until 1st December. HOWEVER, we exchanged on the 31st October and a payment came out on the 15th November 🙃 just something to be aware of that it’s based around the exchange date not the completion date.

@Badgalkiki thank you! I didn't know this so really helps!

It's unlikely you will make a payment in the first month as the lender needs to set the direct debit and the dates are too close together for this to be set up in time.