Mortgage busting - best internet accounts?

Gimcrack

Having taken inspiration from this board (many thanks!) I have decided to have a real good go at busting my mortgage, especially as we will be casting aside the constraints of 2 NW fixed deals end of Aug / Sept respectively. I have two objectives post-expiry - one to consolidate the 3 mortages I have with NW at the moment (original & 2 further advances) and secondly to enable us to pay as many ad-hoc payments via the internet as possible, without penalty AND be able to see the benefits in the form of instant (or as near instant as possible) capital reduction and NO auto lowering of the monthly payment as a consequence of additional payments being made in any given month.

Does such a provider exist? Can anyone recommend a lender who's internet provision offers that "dynamic" reduction that would go such a long way to incentivising paying more down as & when.

Paying additional capital (and not just having it offset against a monthly payment reduction) is a song & dance with the NW involving cheques and visits to branches (according to their cust svcs).

Any advice welcome.

Cheers

Rob

k2tog

Have a look at some of first direct's products. LTV etc will influence which are available to you but I have been really pleased with their internet banking and also their customer service.
Good luck

Gimcrack

thanks k2, I'll take a look - only (I say only!) need c50% LTV.

So how do they handle capital repayments via the internet? do you fire ad-hoc amounts in regularly?
Cheers

Rob

k2tog

Yep, you can do that or if you go for an offset bung it all in there but definitely fine on an ad hoc basis.

Jonbvn

I find HSBC tracker mortgages are good for doing what you want OP. The HSBC fixed rate deals do not offer the same flexibility.