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Overpaying qhestion
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KinSt77
Posts: 16 Forumite

Hello, we are now in a position to make extra payments, is it a simple as transferring the money to the mortgage account. Thanks
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You need to check with your mortgage provider but for my mortgage that is all I need to do.MortgageStart Nov 2012 £310,000
Oct 2022 £143,277.74
Reduction £166,722.26
OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
2022 MFW #78 £10200/£12000
MFiT-6 #28 £21,772 /£750001 -
Thank you, I'll contact them today.0
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different mortgage companies have different options, so worth asking what ways to see, for example mine (TSB) allows over payments via debit card over the phone, faster payments in directly from my current account, or an uplift of the direct debit (which is currently how i over pay, my direct debit is set higher than it needs to be, though i have also called and made additional payments over the phone with debit card when overpaid in lump in prior years).
for me direct debit is best for regular over payments as it comes out before i can "miss" it or find something else to spend the money on lol!MFW#105 - 2015 Overpaid £8095 / 2016 Overpaid £6983.24 / 2017 Overpaid £3583.12 / 2018 Overpaid £2583.12 / 2019 Overpaid £2583.12 / 2020 Overpaid £2583.12/ 2021 overpaid £1506.82 /2022 Overpaid £2975.28 / 2023 Overpaid £2677.30 / 2024 Overpaid £2173.61 Total OP since mortgage started in 2015 = £37,286.86 2025 MFW target £1700, payments to date at April 2025 - £1712.07..1
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