Your first payment falls on the same day as your chosen monthly payment date.
You can choose your first payment date to be up to one month after your completion day (the day the property becomes yours, legally).
For example, if you complete on 12 September, you will need to select a payment date between 13 September and 12 October.
Some further scenarios:
Jill, Mark and Susan have bought together and are each contributing to the monthly mortgage payment. Jill chooses to pay on the 1st of each month. Mark chooses to pay on the 28th. Susan chooses to pay on the 14th.
If the group completes on 28 June, Jill will be charged on 1 July, Mark will be charged on 28 July, and Susan will be charged on 14 July.
Let's imagine the group completes on 13th June instead.
Jill will be charged on 1 July, Mark will be charged on 28 June, and Susan will be charged on 14 June.
Your monthly payments will be the same regardless of when you choose to pay in the month. Nothing more, nothing less.
Your first monthly payment can take up to 3 business days after your chosen payment date to be collected from your bank account. From month two onwards, your payment should be taken from your account on your chosen payment date.