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Paying the mortgage
MARKYS_MISSION
Posts: 11 Forumite
Just joined folks and this is my very first post ( so be patient).
I have 11 years left on my 84,000 mortgage having just reduced the term from 13yrs. My question is as follows If I have spare cash can I go into the bank with my mortgage account number and pay a small amount over the counter. Will the money come off straight away or will it only appear at the end of the year.Does anybody pay a little over the counter when they can ?
Thanks
I have 11 years left on my 84,000 mortgage having just reduced the term from 13yrs. My question is as follows If I have spare cash can I go into the bank with my mortgage account number and pay a small amount over the counter. Will the money come off straight away or will it only appear at the end of the year.Does anybody pay a little over the counter when they can ?
Thanks
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Comments
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MARKYS_MISSION wrote: »Just joined folks and this is my very first post ( so be patient).
I have 11 years left on my 84,000 mortgage having just reduced the term from 13yrs. My question is as follows If I have spare cash can I go into the bank with my mortgage account number and pay a small amount over the counter. Will the money come off straight away or will it only appear at the end of the year.Does anybody pay a little over the counter when they can ?
Thanks
Depends on the mortgage but usually yes.
Who is your mortgage with?Thinking critically since 1996....0 -
Sorry told you I was new.
It is with Alliance and Leicester. There lies another problem I have no local A&L. Would Santander take the money. ( without messing up) .0 -
Hello. I took out an Abbey mortgage through an Alliance and Leicester manager and now hand in my overpayments at a Santander branch. So you should be fine!0
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Good luck!
SquirrelPaid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
Still thrifty though, after all these years:D0 -
Thanks to those who replied.I think I will try a twenty pound payment next month as a tester just to see how .quickly it goes to the acciunt0
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Hi Mark,
Welcome to the mortgage free wannabe section. We're generally a friendly and helpful bunch!
One thing I don't think has been asked yes it your mortgage rate. Usual advice of if you can get a better interest rate than your mortgage, you're probably better off saving instead and reviewing your mortgage vs savings periodically.
Good luck. I'll try and drop in now and again.
Financial Bliss.Mortgage and debt free. Building up savings...0 -
Check first that your mortgage product has the facility for overpayments!!0
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