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can I borrow back mortgage overpayments

Beetlebug1969
Beetlebug1969 Posts: 1 Newbie
in Mortgages & endowments
I have made several over payments to my mortgage over the years and because I have a very good mortgage product I would like to borrow back the over payments to use to move house or build an extention.
My mortgage is a life time tracker with the Woolwich.
Is this Possible?

Comments

  • ACG
    ACG Posts: 24,897 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Have you asked woolwich?

    I think it might depend on whether it sits in an overpayment fund or if you have made capital reductions - thats how it was when i worked for a different lender.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Check your mortgage cuurent account for it's overdraft limit.

    That's the way woolwich do the get your overpayents back.

    They charge the SVR on the OD unless you have an offset then it is just part of the pool.


    Some Woolwich/Barclays mortgages had the option to convert to offsets for a small fee.
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