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When does it show?

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
3 replies 825 views
SillygalSillygal Forumite
23 Posts
Debt-free and Proud!
edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
Hi

Just wondering - My building society lets you set your overpayments of over £500 to reduce the term of your mortgage..

I was wondering when this actually shows on your statement. I thought it would show immediately..

Will I have to wait for my yearly statement for the new end date to show?

Thanks

:beer::beer:
Debt Free March 28th 2016
Mortgage OP Target for April 2016 to April 2017 £6000
OP so far £670/£6000

Replies

  • LuckyinlifeLuckyinlife Forumite
    1.6K Posts
    ✭✭✭
    I guess if you have to wait for a statement you wont see it till then

    but typically if i overpay on monday it could be tues/weds/Thursday before its aculally taken off my main balance
    Mortgage--- [STRIKE]£67700 March 15[/STRIKE] [STRIKE]£65221 April 15[/STRIKE] [STRIKE]£64983 July 15[/STRIKE] [STRIKE]£64780 sept 15[/STRIKE] Remortgage [STRIKE]£67295 oct 15[/STRIKE] [STRIKE]£66599 Nov 15[/STRIKE] [STRIKE]£65878.73 Dec 15[/STRIKE][STRIKE] £64834 1st Jan 16[/STRIKE] [STRIKE]Feb 16 £64,511.89[/STRIKE][STRIKE] March 16 £64,056.40[/STRIKE] [STRIKE]April 16 £62550[/STRIKE] [STRIKE]May 16 £62,396.20[/STRIKE] Feb 17 £60.800
    Emergency fund 23k
  • It shows in the main balance, but not that the term has been reduced?
    Debt Free March 28th 2016
    Mortgage OP Target for April 2016 to April 2017 £6000
    OP so far £670/£6000
  • selloptapeselloptape Forumite
    598 Posts
    ✭✭
    I think they're all different - I OP over the phone and get them to confirm the new term to me. They follow up with a letter about ten days later confirming the new term.

    Save 12k in 2019 #8 £2432.65/£2,500
    MFiT T5 #22 Save £20k over 3 years £5495.08
    Walk 1500 miles in 2019 - 645.92/1500
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