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Overpayments
GraemeR23
Posts: 1 Newbie
Hi Folks, my mortgage is due for re-mortgaging at the end of May 2024. Im with the TSB at the moment. Can i use my entire 10% allowance for the whole year to overpay up till the end of the mortgage term in May? Chances are, i will go with another company when i re-mortgage. I know i can overpay as much as i want if i leave it to go onto the standard variable rate after May.
Cheers
Cheers
0
Comments
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I imagine you can overpay 10% this calendar year then 10% next. Best to check your t & c's or give them a call to double check. The max overpayment amount is set at the beginning of the year so yes should be ok but again best to check incase of differing rules.2
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If you're planning to move to another company then depending on the amounts and your interest rate, you might be better off putting the money into a savings account at 5% and then dumping it into the mortgage when you take out the new one.Remember the saying: if it looks too good to be true it almost certainly is.1
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