Overpayment on mortgage

geeka

Hi Guys,
I am starting to overpay by a large amount every month an extra £1k a month) once my bills have come out as well it will leave me limited cash in my account (maybe £100 a month). I do a bit of labouring to earn cash on a weekend for a friend as I want to be mortgage free in 4 years. I'm worried that the bank might start asking questions as I will only be using the remainder to buy food or don't they care?
Thanks
Tim

ViolaLass

They won't care.

Goldiegirl

If very out of character transactions occur on an account, it's possible that the account could be flagged for further investigation.

For example, suddenly paying in thousands in cash and transferring the money abroad the next day.

Or suddenly the account started getting lots and lots of small credits, paid in at locations all over the country.

But if an account is flagged for this sort of investigation, they wouldn't be asking the account holder questions, as that could be seen as 'tipping off', that is making the person aware that they think the account is being used for possible illegal activities

In your case, you'll simply be using your account to pay your bills, mortgage and food...... Nothing unusual or suspicious there.

As Viola says, they won't care