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Do banks like Halifax, Santander charge for lump-sum overpayments? How much?
LiveOnce
Posts: 476 Forumite
Hi all,
Do banks like Halifax, Santander charge for lump-sum overpayments? How much?
Do banks like Halifax, Santander charge for lump-sum overpayments? How much?
0
Comments
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It would depend on the terms of your mortgage. This would vary potentially not just from lender to lender but also from product to product with the same lender. On mine (a fixed term) I can overpay by either 5% or 10% of the balance each year, either by increasing my monthly payments or as a lump sum without penalty. They would charge for anything beyond this. However, when the fixed term ends and it switches to a variable I can overpay by as much as I want without penalty.
Best bet is to just phone them and ask.0
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