Can overpay by £3600 a year but what counts as a year?

JennyP

Apologies if this has been asked elsewhere.
I can overpay by £3600 a year without penalty but what constitutes a year? Is it by tax year? Calendar year? Or literally over any twelve month period?
Or perhaps it depends on the product?

Retter

It should be the anniversary of your mortgage start date.

sitesafe

I can overpay from 1st Jan each year I'm in a fix. So for me in my situation it's the start of the new year even though my original mortgage started in September. I guess it depends on what product etc

JennyP

Thank you both. Suspect I will have to ring and ask .... And sit through their long winded phone menu!

beanielou

Have you still got a copy of your mortgage offer?
It should state in that.

JennyP

I will look.