Nationwide early repayment charge

Polly05

Hi.

I am going to put my place on the market (not buying another, so porting not an option). I am 3 years into a 5 year fix with nationwide so I need to pay an early repayment charge. The online calculator asks for the remaining mortgage amount but says disregard any overpayments since last balance statement. Now, I have always overpaid. And you only get a balance statement at the start of each year. So I assumed it would go on whatever I had left to pay in January. But then I found another page saying you can request a balance statement at any other time of the year. So I phoned up to ask for one. She just told me the current balance. I told her I was trying to work out the early repayment charge. She told me what it was, which was on how much the balance is now.

Has anyone else paid the early repayment charge for nationwide and can confirm if it goes by the January statement or how much u owe at the time?

If that's the case, I could overpay the amount I'm allowed this year (the year anniversary just past so I can overpay again for this year) just now and by the time I come to pay the mortgage off, I will owe less and have less of a early repayment charge to pay?

Thanks! 

TrickyDicky101

It will be charged on the balance outstanding at the time the mortgage is cleared (not 1st Jan).

Polly05

Ahh that's good. That's better thanks.
Do you know if the amount u can overpay per year is pro rata'd? Like my new calendar year has just started so I could do an overpayment of 10% of original loan value just now (so all I'm allowed to overpay for the year) then when I sell, the early repayment charge will be less? Or if I sell during this year, would I have overpaid too much? 
 Thanks

TrickyDicky101

Check your mortgage particulars [that you received when you took out the current product] - that should tell you.  Typically you won't suffer any pro rating like you describe.