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Mortgage overpayment
Thunderchild2015
Posts: 23 Forumite
Hi guys
Just got a quick question I'm wondering if anyone can assist me with
I took out my first mortgage as a first time buyer earlier on this year in March and borrowed £32k towards my first house
I took it through santander, and through some scrimping have managed to pay off their 10% overpayment allowance by May, which should have taken the outstanding balance to just £28,800.
However when I've rang earlier this week, they've said the total outstanding balance of £28,639.......
My question is, have/will the 2 mortgage payments I've made since may have reduced the balance because I've paid of the 10%??
Just got a quick question I'm wondering if anyone can assist me with
I took out my first mortgage as a first time buyer earlier on this year in March and borrowed £32k towards my first house
I took it through santander, and through some scrimping have managed to pay off their 10% overpayment allowance by May, which should have taken the outstanding balance to just £28,800.
However when I've rang earlier this week, they've said the total outstanding balance of £28,639.......
My question is, have/will the 2 mortgage payments I've made since may have reduced the balance because I've paid of the 10%??
0
Comments
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Thunderchild2015 wrote: »
My question is, have/will the 2 mortgage payments I've made since may have reduced the balance because I've paid of the 10%??
Nothing to do with the 10% overpayment. Your monthly payments reduce how much you owe - if they didn't, you would never pay the mortgage off!0
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