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Skipton BS overpayment?
andy.m_2
Posts: 1,521 Forumite
Ok So I'm really getting geared up to start my MFW quest in 2011.
I reckon that this year I can start with a £150 pcm regular OP and a LSP in June of £1200 (a little SAYE I have running at work).
From tiny acorns etc.
The thing that's throwing me a curveball at the moment is searching about Skipton.
Threads on here suggest that if you make overpayment that they reduce the monthly payment by default.
I have read that if you want a term reduction they charge for this.
I understand that I took out the mortgage, it bears my signature at the bottom and I deserve to be bound by its T&Cs.
But, in those T&Cs I am allowed to make a 10% (original capital) OP.
Does anyone know if I can make a monthly overpayment to reduce the term rather than reduced PCM payment?
I know the answer is "call CS and speak to them" but having embarked on MFW it's so exciting and I want answers now :rotfl::rotfl:
many thanks for any help you can give me
I reckon that this year I can start with a £150 pcm regular OP and a LSP in June of £1200 (a little SAYE I have running at work).
From tiny acorns etc.
The thing that's throwing me a curveball at the moment is searching about Skipton.
Threads on here suggest that if you make overpayment that they reduce the monthly payment by default.
I have read that if you want a term reduction they charge for this.
I understand that I took out the mortgage, it bears my signature at the bottom and I deserve to be bound by its T&Cs.
But, in those T&Cs I am allowed to make a 10% (original capital) OP.
Does anyone know if I can make a monthly overpayment to reduce the term rather than reduced PCM payment?
I know the answer is "call CS and speak to them" but having embarked on MFW it's so exciting and I want answers now :rotfl::rotfl:
many thanks for any help you can give me
Sealed pot challange no: 339
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