Hi all
I am very concerned about the very first payment where Nationwide want over £2k from me when my normal mortgage payments will be closer to £1k!
I'm on a 95% LTV Save To Buy at 5.69% Fixed for 4 years. Total mortgage is £227,951 over 40 years
Nationwide state that "An initial payment including interest charged in the month of advance and the first month's payment at a fixed rate of 5.59%" The confirmation printout at the time of the full application said that this first payment will be £2231.20 but the letter they sent in the post said it would be £2315.57. Why two different amounts when the % is the same???
I have researched that it depends what date you complete as to what interest you get charged before your first payment - I'm just incredibly confused as to how much I have to pay, based on the above info, if I complete mid-month and have payments set up on the 1st of the next...
Pleeeeeaaaassseee help!
I am very concerned about the very first payment where Nationwide want over £2k from me when my normal mortgage payments will be closer to £1k!
I'm on a 95% LTV Save To Buy at 5.69% Fixed for 4 years. Total mortgage is £227,951 over 40 years
Nationwide state that "An initial payment including interest charged in the month of advance and the first month's payment at a fixed rate of 5.59%" The confirmation printout at the time of the full application said that this first payment will be £2231.20 but the letter they sent in the post said it would be £2315.57. Why two different amounts when the % is the same???
I have researched that it depends what date you complete as to what interest you get charged before your first payment - I'm just incredibly confused as to how much I have to pay, based on the above info, if I complete mid-month and have payments set up on the 1st of the next...
Pleeeeeaaaassseee help!