over payments

mandyy

hiya my mortgage is just under £300 per month. £29480 over ten years. if i pay more each month is it 10% of the monthly amount or the yearly amount or the whole. not very clued up so sorry if this seems a stupid question

thanks

dimbo61

You could give your mortgage lender a call at the mortgage centre and ask them.
Different lenders have different rules so you need to check with them to avoid Early Repayment Charges.

mandyy

reading posts on here about overpayments i just presumed 10% seemed to be the going rate for most