Overpaying at end of fixed term?

ad1927

I am currently on a 1.79% deal with my mortgage provider that ends in 2026. 

I am building up savings, rather than overpaying, because I have an account paying 3.9% interest.  I have a sharesave account with my employer that will end at roughly the same time as my fixed term and that is expected to double the amount I've put in - making me about £25k based on current share price.

I am aware of the 10% overpayment rule, but would that rule apply if I was switching my mortgage in 2026.  So, for example, in 2026 I will owe about £85,000 on my mortgage as it switches to variable - if I move to a new provider and pay £25k off the £85,000 and ask for just a loan of £60,000 - would I invoke any penalties?  My feeling is I wouldn't, because I'd be out of my 5 year fixed term deal, but not sure?

Flower1976

Check the terms and conditions but when it reverts to the variable rate you should be able to pay whatever you want without the 10% limit.

DE_612183

most early repayments are only for the fixed term.