Standard Life Freestyle Mortgage

johncolescarr

Can anyone tell me how often interest is calculated on SL freestyle mortgages?

Last time I asked them they gave a confusing explanation that interest is calculated daily but my overpayments would be taken into consideration monthly.

However, just read on their Q&A that regular payments are only considered on an annual basis. I make regular monthly payments, does this mean I am wasting 11 months of interest from my savings account?

dimbo61

You need to ring up the mortgage centre NOW and check, this as not good making overpayments if only taken into account annually.
It maybe that they only adjust your mortgage payment each year to take into account the overpayments but you save interest from the moment you overpay but give them a call.

johncolescarr

Will do,

Thanks for advice. I will update this thread after I call