arghh overpaid over 10% in one year ! What will they charge me?

go_cat

Just reaised that we overpaid our mortgage by £3500 too much back in 2009 for one year ( natwest only allow 10% overpayments )

We are now moving house and mortgage company

Any idea what we are likely to have to pay penalty wise .. am going to ring them tomorrow but am panicking we are going to be landed with a huge bill :eek:

Thanks in advance

somethingcorporate

Usually the normal ERC % applied to that additional overpayment.

Depending on what your mortgage docs say it could be up to 5% or so of that value.

So not that large a bill!

Yorkie1

Check your mortgage documents from when you took out the mortgage. Nationwide's ERC is based on the loan value and not the repayment value, so different lenders vary.