How much extra can you pay in a mortgage agreement? 13 April 2016 at 3:55PM in Mortgage-free wannabe 4 replies 538 views

TimJoness

Hi all,

How much extra can you pay in a mortgage agreement typically?

Let's say you pay your mortageg but every now and again you want to pay more to reduce the overall mortageg. Is there a limit?

ViolaLass

Depends on your deal.

dingdongsaving

Yes, varies from product to product.

POPPYOSCAR

Ours is 10% pa. of the mortgage.

User1489

haha, depends on what you mean

i can overpay 10% of the opening balance of the mortgage each year on the 1st jan

anything over 10% incurs a 5,4,3,2, or 1% charge depending in which year of the 5 year fixed rate i am in