Overpayment query

MrsH2014_2

Hey

New here so hope I'm posting this in the right place.

Have a mortgage with HSBC and just had our annual statement. Husband and I have been making regular overpayments for last 18months and paid a lump sum following inheritance at start of year. Because of this I was expecting the statement to show a sooner end date than last year's but it still says that based on our original mortgage term we are due to make our last payment in October 2036 (ie. 25 years after taking it). I know HSBC obviously have no idea how much overpayment we'll make but was expecting the statement to base our end date on our current balance and standard payments.

Is there any way I can work it out myself? Just like to know how many years we've shaved off so far. It's a capital repayment tracker mortgage.

Thanks in advance :-)

egoode

Have they decreased your regular monthly repayments when you've made the over payments. You might need to call them and let them know that any over payments you make are to reduce the term of the mortgage and not the monthly payment.

MrsH2014_2

Hi, thanks :-)

No, the monthly amounts have stayed exactly the same. Just added it up.and we've paid off an additional £9500 in last 12 months - balance now £67500, so.was definitely expecting it to be reflected somewhere on statement?

Think.I'll phone them!