BOI Overpayments, need help

ciscobloke1

Hi

I am currently in the process of remortgaging with The Bank of Ireland.

Their Mortgage allows for overpayments each year to a max value of 10% of the outstanding balance per finanical year. And it also says not less than £2000 in 1 go.

I have been looking on the forum and many people seem to make overpayments monthly. Does anyone have a BOI mortgage and do this, or know if its possible?

Policy wording:

Minimum Overpayment: You may repay the whole or part of the loan at any time before payment is due, subject to any repayment in part being an amount not less than £2000

Regular Overpayments: During each financial year you may make overpayments that will not incur an early repayment charge providing the total amount repaid does not exceed 10% of the account balance.

Does this mean I can only make large minimum £2k overpayments upto maximum 10% of remaining balance each year? Or can I make regular smaller overpayments each month not to total more than 10% of the balance?

HELP!!!!

Thanks
Mike