Finding out how much I can overpay 27 January 2008 at 6:46PM in Mortgage-free wannabe 3 replies 729 views

Bluerover

Hiya all,

Can anyone please tell me how I can find out how much I can overpay of my mortgage???

I am having a seriously dense day today.;)

wishiwasarichgirl

phone your mortgage company and ask them, thats what I did.

Bluerover

See thats what I meant by a dense day an obvious answer.....Thank you

barnaby-bear

Bluerover wrote: »

Hiya all,

Can anyone please tell me how I can find out how much I can overpay of my mortgage???

I am having a seriously dense day today.;)

Not really that dumb. Some mortgages charge penalties on overpayments e.g. Nationwide trackers at 3%. However you can overpay for free by asking a different question - they allow you to adjust the term up and down so you could change the term one month to 10 years rahter than 25 years say - pay the hiked payment and re-extend the term next month to 24years 11 months returning to normal payments...