Making overpayments to Nationwide
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I am now pretty much in a position to start overpaying my mortgage. I'm with Nationwide and when I log in to the overpayment page it seems to suggest that I need to pay £500 or more if I want the option of reducing the mortgage term. Am I reading this correctly? I was hoping to pay around £200-250 per month on a direct debit and making other overpayments as and when I could specifically to reduce the term rather than my future monthly payments. Is this something I need to arrange with them over the phone or should I just wait until each time I've saved up £500 and do the overpayment then?