C&G new overpayment policy

Catseyes777

Hi

I had a quick look around and could not find this posted anywhere so sorry if it is!

I have found out that C&G have now changed their overpayment policy from 10% to 20% of the outstanding balance per calendar year and this will run until the 31st of March 2011. They are also waiving the usual £10 administration fee. :j

Hope this helps someone!

happy_clapper

I am a C&G customer and I have just found out that they have amended their overpayment policy as you say, but the bad news is that I used to be able to overpay up to twice my standard monthly mortgage payment as well as 10% of the balance each year but now I can only pay up to 20% including monthly overpayments. I have written a letter of complaint to C&G as I feel that they should be telling their customers of these changes and not just going ahead. I have a a standard direct debit overpaying each month and if I hadn't have phoned C&G to find out about this change I guess they would have charged me extra for early payment !! Good for some but not others.

albionsarah

Just a quick heads up, I have just spoken to C and G and they have said, because I am on a fixed rate, that my OP limit is still 10% without being charged.

Apparently the 20% is only for those on a variable rate.

Don't want anyone getting a shock when their statement arrives!

Also the £10 admin fee that they have abolished is only temporarily suspended until March 2011.

Hope this helps! x