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Overpayments to reduce term on Lloyds TSB mortgage

JohnnyCarwash · 2024-02-17 14:50:28

My annual statement has arrived advising my monthly payment is being reduced due to overpayments I’ve made. On contacting Lloyds TSB this morning, I've been told that this is an automatic thing and that, due to a new FCA rule coming into effect last year, it’s no longer possible for overpayments to reduce the term and I…

Comments

JohnnyCarwash Posts: 7 Forumite

19 February 2024 at 1:04PM

jrawle said:

Incidentally, when did the OP take out this mortgage? Lloyds TSB hasn't existed since 2013! I wondered what caused me to search for Lloyds TSB yesterday, but now I realise it's in the title of the thread.

My bad - it is just Lloyds, my mind is clearly stuck in 2013!

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