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How can I make an overpayment to woolwich online
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# 1
Horlock
Old 10-09-2008, 3:41 PM
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Default How can I make an overpayment to woolwich online

I have a woolwich mortgage and I have barclays online banking. Now each month woolwich take a dd for the regular payments which shows up on my statements including my account number 9659... (a total of 10 digits) but no sort code.
As the morgage is with the bank I bank with I would have thought there was an easy way to make an online overpayment, however, I can't see one. Indeed there seems to be no way to make any online payment without knowing the sortcode and account number.

1. Am I missing something obvious in barclays online banking
2. Has anyone actually done what I want to
3. Does anyone know the relevant sortcode

Please don't just say walk in to the branch - I'm afraid it isn't that simple.
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# 2
getmore4less
Old 10-09-2008, 4:24 PM
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All my wollwich accounts show up with the sort codes on on-line banking, but we have an offset so that may be a difference.

Have you checked what you can do with the mortgage linked current account you have, you might be able to set up a mini offset arrangment. which will make things a lot easier.
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# 3
Horlock
Old 10-09-2008, 4:55 PM
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Quote:
Originally Posted by getmore4less View Post
All my wollwich accounts show up with the sort codes on on-line banking, but we have an offset so that may be a difference.

Have you checked what you can do with the mortgage linked current account you have, you might be able to set up a mini offset arrangment. which will make things a lot easier.
Hum, interesting, and thanks for rapid response.

I don't know why my mortgage doesn't show up then. It is a tracker mortgage not an offset, I do have a loan facility linked to the mortgage (which I obviously haven't used because the rate is rediculous) which does show up, but the mortgage itself doesn't.

I don't want to change my mortgage, because it is an exceptional deal. In fact I wouldn't be able to borrow enough on a new mortgage anyway. I couldn't get a remortgage - my income is less than a quarter of what it was when I took out the mortgage - (yet the irony continues that now I want to make a lump sum deposit!)
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# 4
foreversummer
Old 10-09-2008, 8:46 PM
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Hi Horlock

I'm in the process of remortgaging to the Woolwich at present, so I am interested in your post.

I was with the Woolwich several years ago and my local branch gave me the sort code and account number that I could use online to make overpayments. I do not bank with Barclays so I am not familiar with then online banking set up.

I did read on this board recently though that unless you have an offset mortgage, your mortgage balance does not show up online which is a pity.

Unfortunately the Woolwich branches have now been closed, and the call centre moved to India. I have a friend who works for Barclays and she says that they do not have access to Woolwich mortgages.

Not a lot of help to you probably, but as I say I have been wondering how other folk arrange their overpayments.

Foreversummer
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# 5
zingy
Old 24-09-2008, 9:30 PM
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Default How do I pay my Woolwich Mortgage online

Horlock - I also have a woolwich/barclays mortgage. The first two digits in your mortgage account number are the last two in the sort code. So, your "96" in 96etc is, I believe, 10-80-96. The rest of the digits are the account number. There are several woolwich sortcodes that are used for mortgage accounts, e.g. 10-80-95, 10-80-96 etc

I suggest you check this info before you transfer any £ ! It has worked for me, and I did phone the bank last time I did a transfer (Aug 2007) just to make sure it reached by mortgage acccount... I was also told at the time that they don't like to accept one-off payments in this way of less than £500. Hope this helps.

Last edited by zingy; 25-09-2008 at 11:49 AM. Reason: superceded by chivers1977 post below
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# 6
chivers1977
Old 25-09-2008, 6:21 AM
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The sort code has changed so please do not use advise above.

The details are 23-88-first two digits of your mortgage account number which starts with a 9.

Account number is rest of the mortgage account number.

This will credit as a payment on the account but will not affect your billing. If you want it to be credited as a part redemption, you need to call up 0845 605 1111 (there is a new freephone no but can't remember) and they will convert to part redemption and payment will reduce.

Only offset mortgage custoemrs can see their mortgage online unfortunately.
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# 7
zingy
Old 06-10-2008, 10:18 AM
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Chivers details above are correct, and the 23-88-xx sort code should be used at all times. Barclays took over Woolwich a couple of years ago and are in the process of changing sort codes. For the avoidance of doubt only:- I recently (2 weeks ago) paid in several £k using the woolwich sort codes above, successfully received in my mortgage account. However, I have recived a letter from Woolwich/Barclays saying that >no< payments will be accepted using the old sort codes with effect from 3rd Nov 2008. Also quotes the freephone tel# on the letter; 0800 022 4022 9-5 Mon-Fri, and 9-1pm Sat.
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# 8
john3:16
Old 06-10-2008, 12:24 PM
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I have a similar question on Woolwich Mortgage (not an Offset). If I overpay (e.g. 100 per month) what would I need to do if I wanted to take some of that Overpayment back out to spend?

Also, there is a "Reserve" next to my account. They stated that this only updates in multiples of £2000. Which I think means until I overpay by £2000 I won't see my overpayments???

Gerry
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# 9
chivers1977
Old 06-10-2008, 7:44 PM
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Also, there is a "Reserve" next to my account. They stated that this only updates in multiples of £2000. Which I think means until I overpay by £2000 I won't see my overpayments???

You are right in thinking that unless you already have a reserve limit set, you won't be able to draw against the overpayments until the mortgage balance is reduced by £2000. However if you are on repayment, the mortgage balance will be reduced by the payment towards the capital that is made each month.

The overpayments reduce the interest that is charged from the day that it is cleared
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# 10
Trying to be good
Old 06-10-2008, 7:56 PM
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I don't think you can get back the overpayments - check the Ts&Cs for your mortgage.

My 'Reserve' is an additional borrowing facility, nothing to do with overpayments I make.

I pay Woolwich by standing order, using the 23-88-xx sort code, instead of by direct debit. Their customer service is AWFUL, but the rate I have is good so I can't bring myself to remortgage.
Mortgage Free in Three T3; target reduction £162,000 by 12 Dec 15
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# 11
Sloganjerry
Old 06-10-2008, 8:51 PM
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Question Woolwich Annual Mortgage Statement

Has anyone received their Annual Mortgage Statement. I have a mortgage with the Woolwich and was under the impression that they send out the annual statement to all their mortgage customers on the 30th September every year. But I still haven't received anything????? I've over paid this year and expect my payments to be reduced and would like to budget for this month more accurately.

Also, is there anyway of seeing my mortgage balance online? It would be great if there was some way of keeping track of how the mortgage is going other than waiting for a yearly statement?! I would like to see how my overpayments are reducing my balance, it would motivate me no end.

Thanks all!

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# 12
dangers
Old 06-10-2008, 9:15 PM
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We've just had an extension to our mortgage. We overpaid every month last year (phoned Woolwich up and altered DD). Asked for one months overpayment back (long complicated story) which they could do as it had not been applied to the mortgage. When I was in the branch last week sorting out the extension, the mortgage advisor said that our reserve was around £9000 - when the letter about this came out earlier this year, it was standing at around £5000. It has gone up due to the over payments. If we want this reserve back, we will have to borrow it back at the standard variable rate (7.? %).
And no, we can't see our mortgage balance on line either.
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# 13
shirlgirl2004
Old 06-10-2008, 9:40 PM
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You can't get the balance online but if you call the freephone number quoted previously above and call when the call centre is closed you can get details of your balance and also the date the last payemnt was recived so you know which payments have cleared. I like to do this because I could 'phone every night if I wanted to (I don't!)

I'm waiting for my mortgage statement too!
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# 14
chivers1977
Old 07-10-2008, 7:04 AM
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Quote:
Originally Posted by Sloganjerry View Post
Has anyone received their Annual Mortgage Statement. I have a mortgage with the Woolwich and was under the impression that they send out the annual statement to all their mortgage customers on the 30th September every year. But I still haven't received anything????? I've over paid this year and expect my payments to be reduced and would like to budget for this month more accurately.


Also, is there anyway of seeing my mortgage balance online? It would be great if there was some way of keeping track of how the mortgage is going other than waiting for a yearly statement?! I would like to see how my overpayments are reducing my balance, it would motivate me no end.

Thanks all!

The MYE statements are generated using balances as at 30/9 but the run starts going out in the next few weeks. They are not issued and posted on 30/9.

Also unless you have an offset mortgage you can't view online
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# 15
Sloganjerry
Old 16-10-2008, 10:05 PM
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Question

I'm still waiting for that Annual Mortgage Statement from the Woolwich/Barclays? Anyone received there's yet?!

The reason I'm so keen to get it is because I made an overpayment earlier in the year - I think it was 5% of the owed amount that I was allowed to overpay - But my payments still haven't changed?

My mortgage payment went out today at exactly the same amount as before. I was expecting it to be reduced? Why hasn't this happened or is this month classed as the last payment of the year? It shouldn't be though should it?
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# 16
wannabemoneysaver
Old 17-10-2008, 5:45 PM
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Further to other contributor's comments , I have to agree that the customer service at the Woolwich is absolutely dreadful.

As I'm on a lifetime tracker at +0.23 over base, I'm not going anywhere else though.

I too am looking to repay some mortgage. There is no means of contacting them over the net and no branches. There is a customer helpline that permanently has queues. I have a part and part and want to check if I overpaid whether it would go off the interest only or off the repayment part.

Interesting that you should say that its only creditted in lumps of £2000? I want to overpay and shorten the length of my mortgage, but as you say, you have to be sure that the payments are going to the right place.. I also want to re-confirm that overpayments are penalty free.

If anyone does get hold of an address to write to where you actually get a reply, perhaps they could post it on here ?

Woolwich - I hope you are reading this - Shame on you ! Customer service awards? my a***
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# 17
MrBG
Old 23-10-2008, 9:56 AM
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Default Mortgage Statement etc.

I too am awaiting my Annual Mortgage Statement. In the last year I have made a number of small overpayments (£50,£100 etc), which I was only able to do by ringing customer services and asking for the sort code and account number etc. I then made a small test payment and then rang them back a couple of weeks later to confirm it had been allocated to the account, before sending any more. I don't bank with Barclays / Woolwich but very easy now to make online payments using my own bank. I also got them to confirm that overpayments get credited instantly, and directly against the capital, which they did. Whilst customer services would seem to be outsourced to foreign climes, I found the service very good indeed, although I did have to queue as expected.

Tip: Check www.saynoto0870.com for cheaper rate numbers.

As I have a lifetime tracker at BoEBR+0.18%, I might be able to afford a few extra payments this year.

I hadn't previously considered using the mortgage current account reserve - but with falling interest rates is anyone considering utilising this facility? I must admit there doesn't really seem to be a simple explanation of exactly how it works - has anyone looked in depth at this?
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# 18
MrBG
Old 03-11-2008, 10:20 AM
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Default Mortgage Statement now received

I've now had my annual mortgage statement -slightly confused by way the interest is shown as a lump sum at the end of the year whilst I understand that this is calculated daily - would be easier if the interest could be shown on a monthly basis as would be easier to calculate how the monthly payment affects the capital and the interest (and of course how overpayments save interest)

I've now set up a standing order (in addition to the direct debit) to overpay every month.

I've also tried building a spreadsheet to track and plot payments and to show much my overpayments will affect the mortgage term, I'm nearly there but just can't seem to get all the formulae right.
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# 19
relmes
Old 10-11-2008, 11:55 PM
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Quote:
Originally Posted by MrBG View Post

I've also tried building a spreadsheet to track and plot payments and to show much my overpayments will affect the mortgage term, I'm nearly there but just can't seem to get all the formulae right.
I've been trying to do the same. So far I have yet to find a method of applying the daily interest and the monthly payments so that it adds up to the same figures as I get on the statement. I'm always out by a few 10's of pounds. Once these tally then I can start monitoring any overpayments I make.

If you crack it please post the answer here as it is driving me nuts!
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# 20
border collie
Old 11-11-2008, 12:15 AM
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I rang them up.


1. no online banking available
2. only way to overpay is send a cheque.

I set up a standing order using duplicate details so I could overpay online.

crazy :confused:
The quickest way to double your money is to fold it in half and put it back in your pocket.

Last edited by border collie; 11-11-2008 at 12:17 AM.
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