Parents gift of paying lump sum off mortgage,

getmore4less

Not the payment date you need to check the date current deal runs finishes. 
If not sure talk to the lender first. 

J_WIGHT

  getmore4less said:

Not the payment date you need to check the date current deal runs finishes. 
If not sure talk to the lender first. 

Thankk you. I'm delighted to say that I've just spoken to them and they've said as soon as the last payment for this term is made, the overpayment (lump sum) can be made and there will be no penalties because we are out of  term. Once the payment is made, I then sign up for the next five years at 'x' amount. The chap said that if I did it the other way (still being within an agreed term), I could only pay 10% of original mortgage without penalties. The timing for this couldn't have been any better for us  .