Your Contractual Monthly Instalment (CMI) is your monthly mortgage payment.
Your first mortgage payment will be the full CMI amount shown on your mortgage documents.
But isn't the first mortgage payment usually different from subsequent payments?
Different mortgage lenders manage the initial mortgage payment in different ways. We believe it's important that your first payments are consistent. That's why your first mortgage payment will be in line with subsequent payments.
You will receive a Welcome Letter from your Customer Champion when you complete on your property. This will confirm your initial CMI to be taken by direct debit on your preferred payment date.
If you have any questions, please reach out to your Customer Champion.