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NatWest 30% over-payment.

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I just found out i can make a penalty free over-payment on my Natwest mortgage of 30%. That's because i am renewing with them when my old deal runs out. It seems quite a lot, and i have no reason to doubt the lady on the phone at all. But it just seems odd i have never read about this before. As an eternal pessimist , should i be worried ?

Comments

  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    Check your paperwork, it should make it clear.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    wullie wrote: »

    As an eternal pessimist , should i be worried ?

    As an eternal pessimist, yes, you should always be worried. It's part of the job description.

    But I doubt you have good reason on this occasion.
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Why 30%?

    I'd expect 10% during a rate period, or unlimited without...
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    wullie wrote: »
    I just found out i can make a penalty free over-payment on my Natwest mortgage of 30%. That's because i am renewing with them when my old deal runs out.

    You can paydown any amount you like once the "old deal" expires, and the "new deal" commences.

    Is the 30% the amount that you wish to pay off the mortgage.
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