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Had anyone here been charged for overpaying too much?

pawlala
pawlala Posts: 1,434 Forumite
Part of the Furniture 1,000 Posts Name Dropper
edited 25 January 2011 at 1:14PM in Mortgage-free wannabe
Looking into a new mortgage the usual 10% overpayment limit per year applies during the fixed term, but what happens if the amount overpayed in a 12 month period becomes bigger than this? Has anyone actually been charged, either intentionally or unintentionally? Has anyone got away with overpaying above the limit without being noticed?

What exactly are the charges that apply, generally speaking? (I know it is likely to vary depending on the lender).

How do lenders keep tabs on how much overpayments have been made every year?

I hope I have explained myself well! :)
Mortgage free I: 8th December 2009!
Mortgage free II: New Year's Eve 2013!
Mortgage free III: Est. Dec 2021...

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