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Northern Rock overpayment qeury

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Does anyone know if I will have a problem doing this with a Northern Rock mortgage? I want to make regular overpayments and drawbacks from the mortgage so that I have as much of my current account money on the mortgage as possible at any one time but I pull it back once a month to pay bills, then when I get paid the next month I do the whole thing again. Kind of like a manual oneaccount!
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Peter Stones

Comments

  • comping_cat
    comping_cat Posts: 24,006 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    I have a Northern Rock mortgage, the one i have allows unlimited overpayments which i make via online banking. If i ever needed to borrow back any of the overpayments, i am able to so i feel like im not just paying my mortgage off quicker, im also saving because if i ever needed some cash quickly (they say you can have it within 48 hours) i have access to it!!! I have been known to send as little as £12 to the mortgage, so there is no minimum amount to pay in either!!!!
  • comping_cat
    comping_cat Posts: 24,006 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Oh, the other thing is you can only withdraw £500 or more, they wont let you withdraw smaller amounts!!!
    HTH.
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