Overpaying Santander fixed term mortgage

tracy7

I am currently in the final years of my Santander mortgage. It is on a 5 years fixed term. I am allowed 10% overpayment each year without penalty. If I make the overpayment next year I will be reducing the term below the fixed term deal period of 5 years. So although I would not be charged a fee for overpayments would I still be liable for an early repayment fee. If so would this kick in the moment my repayment period fell below the 5 years fixed term or in the final month?

Sarahwithlove

What's your interest rate? Could you put the money in a saver instead that pays more? I would check with santander but I think they will just reduce the monthly amount you pay. So it may be worth letting them do that and having it tick over on a very small monthly payment.