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Thread: when is the first repayment?

  1. #1

    Default when is the first repayment?

    just wondering when is your first repayment due? we are paying weekly, so is it the first week of settlement or do you get a bit of time up your sleeve?


  2. #2

    Join Date
    Sep 2008
    Location
    Sunshine Coast QLD
    Posts
    153

    Default

    Hi Hollo,
    Your first repayment is due usually 1 month after your settlement date.
    You should call your lender to get some sort of confirmation though.
    HTH

  3. #3

    Join Date
    Oct 2004
    Location
    Sydney
    Posts
    2,614

    Default

    I'm pretty sure we also had to make our first repayment on or before 1 month from the settlement date. When we settled, our lender sent us all that information. Best to contact your lender to confirm. We made a double payment for our first payment.

  4. #4

    Join Date
    Jan 2005
    Location
    Funky Town, Vic
    Posts
    7,070

    Default

    It should be on your paperwork.

  5. #5

    Default

    thanks, should be getting our paper work this coming week sometime! :-)

  6. #6

    Join Date
    May 2005
    Location
    Canberra
    Posts
    3,617

    Default

    Ours was a f/n after settlement. but it may depend on what kind of repayments you are making - ours are f/n.

  7. #7

    Join Date
    Apr 2009
    Location
    Perth, WA
    Posts
    1,587

    Smile

    Hi,

    Ours was a fortnight after settlement as well.

    Amy

  8. #8

    Join Date
    Oct 2007
    Location
    Perth,WA
    Posts
    2,942

    Default

    I think if you find the date your papers were signed, then your regular payments usually need to be made by that day of the month thereafter..... so if they were signed on the 25th April, 1st payment would be due 25th May? I'd just ring to clarify ) Better to call and look a bit clueless than have extra interest be charged

  9. #9

    Join Date
    Nov 2007
    Location
    Earth
    Posts
    4,434

    Default

    We're with PNCS, and our first repayment was a month after settlement - Settlement 4/7/08, first repayment 4/8/08

    HTH

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