A great start @ 3.09%

MFW1981

Just a quick update.

Checked my bank account and Santander havent taken the full amount this month.

So I call them up and they tell me that because I made my overpayment on the 8th and the direct debit comes out on the 15th their system has deducted my overpayment from the standard amount they collect each month.

So instead of paying £631 and a £268 OP, they've only taken £370.... grrrrrrrrrrrrr

Ive asked them to re-take the OP and reduce the term...

Is it really this difficult to make OP's?

edinburgher

Ive asked them to re-take the OP and reduce the term...

Is it really this difficult to make OP's?

I get the feeling that *everything* is this difficult with Santander! I'm planning to go elsewhere as soon as our 2 year fix is up.

Stingy_3000

MFW1981 wrote: »

So instead of paying £631 and a £268 OP, they've only taken £370.... grrrrrrrrrrrrr
Ive asked them to re-take the OP and reduce the term...

How do you make your overpayments?

I do mine by cheque, and i send along a letter saying it is a capital repayment. You can also say whether you wish this capital repayment to reduce the term of the mortgage or whether you wish your following monthly payments to be reduced. It costs a stamp each time but at least they always get it right

Regarding your interest rate, have you double checked if it is really 3.09% or if it is 3.09% on top of the base rate (0.5%)?

LauraWxx

one of the tips i have picked up on here is to make your over payments at the begining of the month when you have worked out finances for the month.

I think the thought is if you leave it till the end of the month its easier to dip in to.

I have started doing that, although due to my circumstances I am moving my 'OP's' to savings account. Therefore if i did need to access the money I can, may not work to OP upfront if you need that flexibility, just a thought!!

Well done on how motivated you are and good luck getting the OH on board. I am struggling to get my bf interested in anything remotley organised and mfw :eek::mad: