Another mortgage overpayment thread

downs523

today i called my mortgage provider Britannia to enquire about overpayments. The man on the phone said i can over pay 10% of last years remaining balance... fine as i was only planning on over paying £100 per month. He said the only way to do this is to post a cheque with a covering letter each time i wish to over pay. He said i cannot do it over the phone or by standing order etc...

is this true? there must be an easier way?

also from reading some threads on here people mention a £50 fee? he didn't mention any other details on the phone so i am confused.

can anyone shed some light on this?

thank you

Thrugelmir

downs523 wrote: »

is this true? there must be an easier way?

Will depend on the lenders internal systems.

May be worth accumulating the money in say an ISA. Then remitting once a quarter.