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.
Jack and Jill have bought together and are both contributing to the monthly mortgage payment. Jill chooses to pay on the 1st of each month, and Jack chooses to pay on the 28th.
If they complete on 28 June, Jill will be charged on 1 July, and Jack will be charged on 28 July.
Let's imagine they complete on 13 June instead.
Jill will be charged on 1 July, and Jack will be charged on 28 June.
Your monthly payments will be the same regardless of when you choose to pay in the month. Nothing more, nothing less.
Please note: 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.