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Not adding up....
HoolyNI
Posts: 266 Forumite
Over the course of the past few months i have overpaid by about the equivalent of 11 months mortgage payments....upon switching from reducing monthly payments to reducing term i notice that my original mortgage now ends in july'22 from may'25, thats a reduction of 34 months. While my further advance still ends in may'25.
Does that sound about right? Or have they applied all my overpayments to the smaller debt i.e. original mortgage =£16.5k further advance = £26.5k
Does that sound about right? Or have they applied all my overpayments to the smaller debt i.e. original mortgage =£16.5k further advance = £26.5k
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Comments
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If the overpayments had been applied to both mortgages pro rata, they would both have their terms shortened,
Sounds like they have applied the overpayment to one part of your mortgage.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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