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LloydsTSB Fixed Rate Overpayments.

1982 Posts: 158 Forumite

10 October 2005 at 8:52PM in Mortgages & endowments

Hi i was wondering if someone could clear this up as im a bit comfused. My mortgage payments are £641pm fixed on a mortgage of £112000. I can make overpayments of up to 10% of the outstanding balence each year.

Is the 10% overpayment separate from the £641 monthly payment ie could i theroetically make my £641 monthly payments all year then in november pay £11,200 (or whatever 10% of the balence at the time was) into my mortgage?

If anyone understands this better than me i would appreciate it if you could giv your advice as i need to find out how this works.

Thanks

1982

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LloydsTSB Fixed Rate Overpayments.

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