How do you make your overpayments?

Rikki

Trying_to_be_good wrote: »

My mortgage is with the Woolwich/Barclays and I overpay in two ways - I have a monthly standing order payment which is greater than the minimum direct debit would be and replaces the direct debit, and I overpay 'ad hoc' amounts using internet banking.

Because I set the standing order up they had to give me the sort code and account number for the mortgage, and I just use the same details for the ad hoc transfers (my current account isn't with Barclays) and it always gets there (so far).

This might be another way to go about getting the details?

Me too.
I just pay the amount I want each month via internet banking. I know the monthly amount and if I have any spare money I just pay above this amount.

JonnyBravo

tsharp wrote: »

Same with Nationwide.

*Sarcastic voice* It's almost as if they want to make it hard for you...

We overpay with the Nationwide via the internet.

Why won't they let you? Have you checked you're doing everything right?

big_mortgage

My mortgage is with the Halifax, i too can only make overpayments at the branch!

I have a Halifax mortgage and have overpaid twice thru internet banking (from Barclays) I assume the figure was reduced on my balance, the 1st time was only for £100 so I might not have noticed.

I do have to say that I was specifically asking about reducing the term, hence the reference. They went on to warn me that amending the term incurs a £10 fee, but overpaying doesn't incur any fee.

I assume that the term would be reduced, Ok maybe not actually on their system, but the repayments remain the same so it must end earlier.

erm i am not sure how to quote from an actual post...

owitemisermusa

Increased monthly payments over and above the regular. Make lump sum payments via online transfers.

Simple really - I guess I'm one of the lucky ones judging by other pple's experience.

wymondham

With the One Account - all occurs automatically without any transfers etc....

ginger_nuts

My woolwich mortgage DD is set up for interest only payments .I also make aditional payments (usually weekly ) via online banking .

torbrex

I pay extra every month along with my regular interest payments, I pay a fixed amount, so my capital repayment increases as the interest charged drops. I can pay an extra lump sum anytime I want to by telephoning my provider and telling them to take it from my bank account.

teapot2

We have a mortgage with NR and can make overpayments by phone - I usually shift all the 3 pigs/cat/and cow money into the bank then overpay by phone the same day. Have also gone into a Branch to overpay as well [not when the rush to empty accounts was on!!!! :eek:

aliportico

I'm with the Nationwide and I just do it via the online banking.

ShaunT_2

big_mortgage wrote: »

I have a Halifax mortgage and have overpaid twice thru internet banking (from Barclays) I assume the figure was reduced on my balance, the 1st time was only for £100 so I might not have noticed.



I assume that the term would be reduced, Ok maybe not actually on their system, but the repayments remain the same so it must end earlier.

erm i am not sure how to quote from an actual post...

I regularly overpay on my Halifax mortgage and as you say the repayment doesn't alter......until you have your yearly review or they change their variable rate when base rate changes......then they recalculate your new payments against the term of your mortgage.....Halifax will only reduce the term if you tell them too.....as its not in their interest to reduce the term HTH.

To the OP......I pay online through my bank.....just need sort code and account number as already said :T