Overpayment options on Nationwide BMR mortgage

humfer

Coming to the end of my 2 year fixed deal with Nationwide and intent to simply stay on the BMR which until the BoE raises interest rates will leave me on 2.5%. Nationwide tell me that my monthly payment will change automatically, but I want to (1) pay off a big lump sum the day after my fix deal ends and (2) start making overpayments every month as well. Whats the easiest way of doing this? Do I need to go into the branch and pay with a cheque and is there another simpler way??

littlechezza

I'm also with Nationwide and our fixed deal which is 5.09 comes to an end in June so as you can imagine wishing the months away, we will have an extra £200 a month which will be paying off our overdraft, to answer your question I know when I asked before I'm sure they said you can pay by cheque as long as you have the account number, I can't remember the mention of paying over the phone but I'm sure you will be able to.
Good luck with the overpayments.

VIGILANT22

Phone the call centre and pay by debit card

[Deleted User]

If you phone up Nationwide and ask about making overpayments you can get a sort code and account number off them and the reference that you use for the payment is your mortgage account number. You can use this info to set up a standing order. If you use online banking you can also set up an online bill payment with these details and pay online into your mortgage account whenever it suits you. I have used this method myself to make overpayments to Nationwide.

B'stard

CR10 wrote: »

If you phone up Nationwide and ask about making overpayments you can get a sort code and account number off them and the reference that you use for the payment is your mortgage account number. You can use this info to set up a standing order. If you use online banking you can also set up an online bill payment with these details and pay online into your mortgage account whenever it suits you. I have used this method myself to make overpayments to Nationwide.

Thanks for the info

KarenBB

This is from the Nationwide website after searching overpay mortgage

How to make additional repayments on your mortgage
By cash or cheque over the counter at one of our branches. Cheques should be made payable to the mortgage account holder(s) and also have the mortgage account number written on the front.
By external transfer from another bank. You will need to quote the following details:
Sort code: 070094
Account number: 44444445
Reference number: Your mortgage account number
By Internal transfer using our Internet Bank. You can make regular or single payments from your FlexAccount, follow this link to our Bill payment / transfer money article.

OH does it by online transfer, it takes 3-5 days to get there via BACS, if you pay a cheque into the branch it shows as a payment that day even if it's a cheque. You can't make overpayments over the phone but you can ask them to take one off payments by DD from the account your DD is set up with or regularly overpay by your DD. OH likes to do it as and whn he wants to which is why he transfers the extra payments.