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Overpayment Query
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DudeBear
Posts: 17 Forumite
Hi Everyone
I can over pay on my mortgage by 10% - but is this 10% of the original load of 133k or what I owe now?
The paperwork I have here isn't very clear.
If I pay a lump sum off, does this go against repaying the capital and therefore reduce the interest I pay and overall term?
Would have called them but it's a Sunday....
Thanks
I can over pay on my mortgage by 10% - but is this 10% of the original load of 133k or what I owe now?
The paperwork I have here isn't very clear.
If I pay a lump sum off, does this go against repaying the capital and therefore reduce the interest I pay and overall term?
Would have called them but it's a Sunday....
Thanks
0
Comments
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what does the exact wording of the T+C stipulate regarding the overpayment?? We can't read it from here"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
most lenders allow 10% overpayment each year of the outstanding balance on the 1st of January
Best to check with your lender0
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