Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
Mortgage overpayments not reducing term!
edited 30 November -1 at 12:00AM in Mortgages & Endowments
27 replies 3.8K views
I have 2 barclays mortgages (one is for additional borrowing for loft conversion we did a few years ago) secured against my property and I make regular monthly overpayments on each account. These overpayments are shown on my annual mortgage statement but the end dates of the mortgages never seems to be brought forward. Therefore what is happening to my overpayments? I don't understand this because when I use the MSE Mortgage overpayment calculator it shows term is reduced by making one off and monthly overpayments, so why does my mortgage statement not reflect this? My monthly payments remain static and are not reducing. Should I get in touch with Barclays directly?