Fixed Rate Mortgage Overpayment Limit Reset?

MoneyBob

Used to have a fixed rate mortgage with Halifax on which I could make overpayments up to 10% of the outstanding loan, each year, without incurring early repayment fees.

At first this was a rolling date, so they counted all overpayments made in the previous 12 months, at any point in time I wanted to make a payment. And then they changed it so the amount they considered paid off reset on Jan 1st. So I could pay off 10% of outstanding amount on 31st December, and then make another payment on 1st of Jan the following day (in theory).

Does anyone know how Abbey (Santander) operate their early repayment date calculation?

I'm hoping it's the same, with a Jan 1st reset point.

Thank you!

MoneyBob

Answered my own question:

Turns out Santander reset the repayment tally on Jan 1st each year. So you could pay 10% off in December. And then another 10% (of the remainder) in January.