Educated Guesstimate please :)

jorja1986
jorja1986 Well-KnownRegistered Posts: 210
Need some help please guys.

Buying a house & due to complete on 25th June - Query is when is first payment of mortgage due?

I am with the co-op & hubby tried contacting the helpdesk and they were as helpful as a chocolate teapot.

Some have said 1st July is initial payment plus interest plus August
Others are 1st Aug which is July & Aug & interest
Another is Interest on 1st July then normal payment on 1st Aug.

Any help is appreciated because until we have an educated idea of when it is due we daren't spend any money on getting anything to put into the house!

I have tried google and all i get really is that co-op customer service is to be desired! We have torn apart the paperwork that we have had from them as well and all it says it that interst is due on the days between completion and first payment!

Any help is really appreciated.

Also GOOD LUCK to all those sitting and sat exams

Comments

  • kerryhill100
    kerryhill100 Well-Known Registered Posts: 121
    if my memory serves me correctly

    my 1st mortgage payment was the following month in your case august which was the 1st months payment plus additional interest.

    hope this helps.

    I used to underwrite 2nd charge mortgages and payments were always taken up to 45 days following the completion of loan on a date suited to the customer i.e payday!!!!!
  • jorja1986
    jorja1986 Well-Known Registered Posts: 210
    Thanks

    Its just a minefield!
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