Direct Debit is a payment method we use to collect monthly mortgage payments from our customers. By filling in the mandate form, you are providing Generation Home with permission to collect your monthly payment directly from your bank account.
Direct Debits are a secure and convenient way to make payments. As a company, we had to be authorised to use the Direct Debit scheme and this is closely monitored by the banking industry.
We require direct debits to be set up by everyone on the mortgage, but each buying group can determine how they would like to manage mortgage repayments.
Under the Direct Debit Guarantee, customers are given extra protection. We must notify you in advance that we will collect money from your account and if there is a mistake with the payment, you are entitled to a full and immediate refund.
You can read everything you need to know about Direct Debits here.