thread: when is the first repayment?

  1. #1
    BellyBelly Member

    Dec 2005
    3,130

    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
    Registered User

    Sep 2008
    Sunshine Coast QLD
    153

    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
    Registered User

    Oct 2004
    Sydney
    2,614

    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
    Lucy in the sky with diamonds.

    Jan 2005
    Funky Town, Vic
    7,070

    It should be on your paperwork.

  5. #5
    BellyBelly Member

    Dec 2005
    3,130

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

  6. #6
    Registered User

    May 2005
    Canberra
    3,617

    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
    Registered User

    Apr 2009
    Perth, WA
    1,587

    Smile

    Hi,

    Ours was a fortnight after settlement as well.

    Amy

  8. #8
    Registered User

    Oct 2007
    Perth,WA
    2,942

    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

    Nov 2007
    Earth
    4,434

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

    HTH