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Nationwide Reducing Monthly Payment After I Overpay.... Grr!

roses · 2010-05-15 12:28:37

Hi, since August I have been overpaying slightly on my mortgage each month. What I didn't notice is that each month they have been reducing my standard monthly repayment "to keep the mortgage term the same", totally negating the effect of me making the overpayment! You can call them up to change your standard monthly…

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MrsManda Posts: 4,457 Forumite

22 May 2010 at 9:57AM

Oh and the other reason we do our overpayments manually is in case for some reason our salaries don't go in on time as it ensures we don't get overdrawn. As NW calculate their interest daily, its worth transferring the money the first day you can each month to get the full benefit (its not much but every little helps )

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Nationwide Reducing Monthly Payment After I Overpay.... Grr!

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