12 May 2021
A Direct Debit Mandate must be completed for each mortgage application submitted to the Society. The mandate must be signed by the applicant(s)/account holder(s) and must be received by the Society prior to release of an Offer of Advance. The applicant(s) must provide a recent bank statement to verify the details on the Direct Debit Mandate. You may upload a certified copy of the mandate when submitting the required documentation for the application.
The applicant(s) monthly mortgage repayment will be due on 28th of the month. This will be collected by direct debit on the last banking day of the month. If this date is not suitable you must inform the Society by stating an alternative date of either 5th or 15th of the month in the ‘Additional Information’ section of the online application. The first monthly payment will consist of both interest accrued in the month of completion and the first regular payment due.
It is a condition of the mortgage that it must be paid monthly by Direct Debit from a UK bank account.