Nationwide new BMR and overpayments 10 November 2017 at 5:51PM in Mortgage-free wannabe 2 replies 517 views

quanto2009

Hi

Received letter from Nationwide about new BMR have been paying £224 with additional over payment of £275 per month.

I have approx £20K in over payments and £13k left on mortgage with end 2023, but sooner I hope.

Consequently my payments will reduce from £224 to £170 from 1st Dec

1.Can I ask nationwide to keep the payments the same?

2.Increase the over payment by the difference ie £275 plus £54?

Looking to pay off as soon as possible which is is the better option?

Thanks

Scrimps

You may have different ts&C's but can usually just call them up to keep the overpayments the same and increase them if you wanted to also.

I don't know your circumstances so do check with them that you're not paying over your overpayment allowance so you don't incur and charges.

quanto2009

Thanks
Its the actual mortgage payments not the overpay ments | want to keep the same,
I am allowed to overpay up to £500 a month