boi mortgage drawdown - direct debit date

[pinkie123]

just wondering does anyone know when 1st mortgage payment for BOI will be taken out for 2 different direct debit days [ie trying to decide on which day to set up the direct debit]
i.e.
cheque drawdown - 9th June
direct debit date 1st of month -
ie. will it be 1st July or 1st Aug?

or

cheque drawdown - 9th June
direct debit date 25th of month -
ie. will it be 25th June or 25th July?

 

[Dreamerb]

Assuming the mortgage is on the family home (rather than an investment property), in my experience BoI's usual practice is to take the first payment on the regular payment date that's at least one month after drawdown. So if you complete on 9 June, it's almost certain that your first payment will be on 1 August or 25 July based on your sample dates. Double check with your branch or broker if you need to be really really sure for cash flow purposes.

 

[RozM]

Hi i have the same query on a BOI mortgage, just wondering if the OP ever got this confirmed??

cheers

R