I just started my MF journey!

newgirly

Hi echo delta, just wanted to pop in and say hi as I spotted your new diary. Best of luck with it

EchoDelta

planningforthefuture wrote: »

Hello there,

I have read your diary with renewed enthusiasm to become MF. I too am with Santander but when I enquired about overpayments (over a year ago to my shame) I was told it would have to be a set amount via direct debit each month. Obviously this put me right off as committing to an increase was a bit intimidating.

How do you manage to transfer small amounts to your mortgage?

I just called up and asked and they said I could increase dd, take cheques or cash into branch or pay by online banking so I got the details to do the latter. They didn't say anything about minimum payments just that I couldn't over pay more than 10% of the outstanding balance per year. Maybe give them a call again? Good luck!

planningforthefuture

Echodelta you are amazing!!! After being inspired by your diary and following your advice I rang Santander and acquired the internet banking overpayment details. Have just overpaid £47.26! Woohoo!

EchoDelta

planningforthefuture wrote: »

Echodelta you are amazing!!! After being inspired by your diary and following your advice I rang Santander and acquired the internet banking overpayment details. Have just overpaid £47.26! Woohoo!

Hooray!!!

EchoDelta

planningforthefuture wrote: »

Echodelta you are amazing!!! After being inspired by your diary and following your advice I rang Santander and acquired the internet banking overpayment details. Have just overpaid £47.26! Woohoo!

Hi planningforthefuture - just a warning!! I noticed today that our mortgage direct debit this month was smaller than usual and called them up about it. It is because of the overpayments.

What they didn’t tell me when I phoned up originally was that when I wantto make an overpayment I should phone up and say I am doing it and it is to gotowards the balance, not towards reducing the direct debit.

Have sent the shortfall of the DD to them (having confirmed it is for the balance!) so all is well and I know from now on to phone them when sending an overpayment.


Bit long winded – it’s almost like they don’t want you to pay your mortgage more quickly and reduce the interest you pay!!

Thought I'd best let you know in case they didn't tell you that either!

planningforthefuture

Thanks Echodelta. They did tell me that and I did call them to confirm receipt. It was going to be my next question to you but I didn't want to become overly dependant so soon!

They do make it difficult!!!

BTW - got £400 of compensation from the FSA today and that is going straight to the overpayment :beer:

gallygirl

planningforthefuture wrote: »

They do make it difficult!!!

Yes, but not difficult enough to foil our cunning plans (insert evil plan here )

castlelough

Hi Echo Delta!

I hope you don't mind me signing up for your diary! I have one on dfw and am hoping to have a mortgage in the Autumn and a diary on here next year! :beer:

You are doing really well! I love the sound of your beach picnics and bbqs! Sounds like you are having a lovely summer!

xxx Castle

hiswitzend

I have to agree you are doing well and the longer you do it the more competitive it becomes to find those saving, its taken me nearly 4 years and this year i will achieve the max of 10% for this year off mine. Keep up the good work.

Tilly_MFW_in_6_YRS

This brings back memories of my time with the Spanish bank - they drove me nuts . For every single OP they had reasons for screwing it up - in the end they even gave me £ as an apology for their incompetence.

Good luck and be firm with them.

Tilly