is over paying really beneficial?

Queen_diamond

Hi all, new to posting so bear with me!
I have been making regular over payments on my mortgage, but my provider doesn't always apply these payments straight away and i'm concerned that this means i'm paying interest on money I don't owe.
Can anyone advise how I can check this out? Would this fit under the remit of a financial advisor?
Appreciate any advice TIA:beer:

foxy-stoat

Yes it is beneficial.

Are we talking a few days worth of interest that the lender charges you from paying it in and them crediting the mortgage account?

I would think about the bigger picture with mortgages, don't get hung up on a few days/weeks as the mortgage term is in decades.

getmore4less

Which lender is not applying payments when they are made?.

ScottishSaver14

The main arguments I've seen against overpaying a mortgage is that the equivalent funds have a better rate of return with investing them instead of overpayment.

However, if you're not interested in investments, then yes overpaying is the way to go and can make a huge difference in how much is paid in interest.

dimbo61

The overpayment will be credited as soon as it hits the mortgage account.
It may take a few days to show on the balance But interest is saved from day one.