First mortgage payment - calculation?

H

Havana

Registered User
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Hi. I'm wondering how they calculated the first months repayment and when it will be applied. I'm hoping to draw down mid june and have requested a payment date of 21st each month. Will this mean my first payment will be july 21st? Or would they request a payment in june for the few days since drawdown?

thanks
 
Exactly what will happen probably depends on who the lender is. I'd ask them when they plan on drawing the first repayment. I'd guess it will be June 21st.
 
Thanks.

it's ics. I'm waiting to talk to my broker so will check with him. Hoping it's july- few extra bob on moving in will help towards dreaded solicitor fees :)
 
Hi Havana,
I'm in the same boat. I was told if I draw down in June my first repayment will be in July. I'm with Haven but I think this is the general rule....the month after you cash the cheque.
FTB1975
 
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