How much did you overpay in 2009

sdd7677

I am allowed to pay 20% of the monthly payment and paying maximum, would like to pay more but terms won't allow me to do so !!!

my_definition

just got my mortgage last ear and overpaid 870 i think - considering were both skint studnets who had no summer jobs i think that was quite good. my mortgage went from 20years to 18 7 months but i assume a year naturally came of that. Still if its saved me some money its worth it.

would never have thought about it before coming on here

[Deleted User]

We overpaid by £6,000 last year - the maximum we could overpay without incurring penalties on our Tracker mortgage (as was, until yesterday when it reverted to the BMR). It's probably worth mentioning that this was £6,000 overpaid on a mortgage with a far shorter term than the one we started out with, though.

kazzad_2

Can't thank you all enough. Without this site I wouldn't have considered this. We overpaid around £8500 last year and also dropped the term of the mortgage by 8 years. We are lucky enough to have a really good tracker rate with no penalties so this will save us a fortune over the term. We are even still managing to overpay as we have not dropped our payments so are continuing to overpay by around £350 per month. The 17 years left seems so much more manageable than the 27 that we had two years ago.:j

poppyoscar_3

Hi! I OPd £2004 last year and am planning atleast £3000 this year - but I have a secret target of MF by 50 which would mean paying triple that.....but it might be doable - on track so far!

daveybea

I have lost my overpayment 'mojo' recently due to job uncertainties and expenditure on a number of bills recently. I paid circa 20K of last year in regular and overpayments but am finding it hard to concentrate this year!
In theory i have three years and eight months left but if I push it a little this year I should be able to finish it in the early months of next year
which I can thank both the Halifax small print and this site for !

begbeer

Overpaid by £23400 last year, on an interest only mortage with 10% allowed as overpayments each year. (3 year fixed, now in second year) target is to finish mortgage by 31/12/2012

oscardog

About £1000 but we have only just started the offset mortgage so are hoping for a lot more this year.

mirabelle

Bradford and Bingley are waiving their Early Repayment Charge from February 1st.

Any capital repayment made against your Mortgage can now be made without any penalty charges.

[Deleted User]

mirabelle wrote: »

Bradford and Bingley are waiving their Early Repayment Charge from February 1st.

Any capital repayment made against your Mortgage can now be made without any penalty charges.

Anyone else thinking "it's stupid to charge our customers for overpaying on their mortgages when we need the money..."?