NatWest 30% over-payment.

wullie

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 ?

ViolaLass

Check your paperwork, it should make it clear.

[Deleted User]

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

Why 30%?

I'd expect 10% during a rate period, or unlimited without...

Thrugelmir

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.