F
F@ces
Guest
Hi,
I'm a first time buyer and have finally moved into my new home at the weekend (in Dublin). My g/f and I have a joint mortgage.
Our solicitor drew down the final cheque (without explicit authorisation mind you, but that's another story) on the 24th April. We didn't return it as we were very close to completion. We done the final signing / handover on the 3rd and got our keys on that date.
I've discovered the lender (bank we have the mortgage with) tried to take our first mortgage payment on the 1st May, a full months amount (note the date of our payments is set as the 1st of each month). We believed that this should be arrears; in other words that we should only be paying from 24/04 - 01/05. However it seems they are expecting us to pay in advance. But that doesn't seem to make sense either as then they aren't receiving any payment for 24/04 - 01/05?
Needless to say we hadn't enough money in our account as we weren't expecting it. And now we fear that this will be a permanent black mark on us. I rang the lender and arrears will be in touch in "48 hrs".
Does anyone know is it arrears or advance? Or is it lender dependant? Either way shouldn't we have been notified by someone (the bank or our solicitor) when / how much our first payment is?
Thanx in advance!
F.
I'm a first time buyer and have finally moved into my new home at the weekend (in Dublin). My g/f and I have a joint mortgage.
Our solicitor drew down the final cheque (without explicit authorisation mind you, but that's another story) on the 24th April. We didn't return it as we were very close to completion. We done the final signing / handover on the 3rd and got our keys on that date.
I've discovered the lender (bank we have the mortgage with) tried to take our first mortgage payment on the 1st May, a full months amount (note the date of our payments is set as the 1st of each month). We believed that this should be arrears; in other words that we should only be paying from 24/04 - 01/05. However it seems they are expecting us to pay in advance. But that doesn't seem to make sense either as then they aren't receiving any payment for 24/04 - 01/05?
Needless to say we hadn't enough money in our account as we weren't expecting it. And now we fear that this will be a permanent black mark on us. I rang the lender and arrears will be in touch in "48 hrs".
Does anyone know is it arrears or advance? Or is it lender dependant? Either way shouldn't we have been notified by someone (the bank or our solicitor) when / how much our first payment is?
Thanx in advance!
F.