Fixed rate mortgage - overpayments allowed?

Hi all,
I have 10 years left on my mortgage and thinking of taking out barclays 10 year fixed rate at 1.99 percent. I would fix rate for 10 years and also take the mortgage term for 10 years.
It says 10 percent overpayments are allowed. But if I pay 10 percent extra every year, the mortgage would be paid off early (7 years) which isn’t allowed is it? As it’s fixed for 10 years. Would I incur a charge for paying off the mortgage early? (Even though it said 10% overpayment was allowed) Would the bank keep adjusting my monthly payments to make sure it stays spread over 10 years? 
Thanks for any advice on this!


  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Name Dropper First Anniversary First Post I've helped Parliament
    You get a choice with Barclays to keep the payment the same or reduce.
    Once the balance goes down you can just run the last couple of £k over 2-3 years. 
  • Luke86
    Luke86 Posts: 34 Forumite
    First Anniversary First Post
    That's actually a good question.
    When I started overpaying (within 10%), I didn't even think about that.
    Anyway, the typical way they would work, would be to reduce the payment to suit. I kept mine the same, so as you mentioned, it would have been paid earlier!!!
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