We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Overpayment Query
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
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards