Mortgage repayment

foxymm

I will not have enough to pay my mortgage this Wednesday when my Mortgage bank will come in and try and debit my a/c. I will however have enough to pay on Thursday when my fortnighly wage comes in. This has never happened to me before so I am not sure what happens in terms of arrears/credit rating etc. Is it possible to contact the bank to see if they can delay payment by one day? Any advice or information would be greatly appreciated. Many thanks

coylemj

Explain the situation to your bank, ask them for a temporary overdraft facility to cover the mortgage payment, that way the direct debit will not bounce. Otherwise if the debit bounces, your bank will charge you extra fees and the mortgage company will be chasing you for the payment.

getSorted.ie

Hi,

The first thing you should do is contact your mortgage company and explain to them the problem, they will be very understanding, it is unlikely that they will be able to alter the payment date within the timescale but they will either advise that you make the payment direct to your mortgage account or they will offer to represent the Direct Debit for payment.

Even if you contact them by phone i would always recommend you follow up with a letter, the letter will always be on your file showing you dealt with it as soon as you could..

Unfortunately with the way the banks are these days getting a "temporary" overdraft might prove extremely difficult and certainly slower to get in place.

I cant promise that your bank wont charge you a fee for the unpaid, but maybe a short note to them as well might be worth the effort.

mitosis

Short term loan from family member?

foxymm

I think i'll have to go with this one!