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  • FIRST POST
    • LL30
    • By LL30 7th Feb 18, 11:42 AM
    • 722Posts
    • 575Thanks
    LL30
    Overpaying
    • #1
    • 7th Feb 18, 11:42 AM
    Overpaying 7th Feb 18 at 11:42 AM
    Hello,

    Just about to start the overpaying process - spoke with the bank last week re: amounts and ERCs etc. Helpfully I took notes as I was speaking to them...or so I thought! The lady told me when to pay so it didn't impact my regular payments, but I can't make head nor tail of what I wrote. I think it says 'on or after' and then something about ten days...any ideas? Or do I need to put myself through the torture of vivaldi again?

    Bank is Santander if that makes any difference.

    TIA
Page 1
    • fromtheshires
    • By fromtheshires 7th Feb 18, 12:13 PM
    • 285 Posts
    • 236 Thanks
    fromtheshires
    • #2
    • 7th Feb 18, 12:13 PM
    • #2
    • 7th Feb 18, 12:13 PM
    I make any overpayments after my monthly mortgage has gone out because then it cant mess with anything on the systems. They advise not to make any payment 10 days before the payment is due to go out as it has the potential to mess things up - what I have no idea though.

    With Santander, you need to ensure you are paying at least 500 and if you want it off the capital, make sure you tell them that its to pay off capital.
    • LMG1305
    • By LMG1305 7th Feb 18, 12:33 PM
    • 149 Posts
    • 1,018 Thanks
    LMG1305
    • #3
    • 7th Feb 18, 12:33 PM
    • #3
    • 7th Feb 18, 12:33 PM
    I also bank with Santander & I remember when I spoke to them about overpayments, they said not to make an overpayment within the 10 days before the DD is due to go out, because if you do that it regards the payment as part of the regular monthly payment, so the DD would then be a lesser amount.

    My DD goes out 1st of every month, so to make sure I am nowhere near the 10 days, I make any overpayments on 15th of the month.
    • LL30
    • By LL30 7th Feb 18, 1:50 PM
    • 722 Posts
    • 575 Thanks
    LL30
    • #4
    • 7th Feb 18, 1:50 PM
    • #4
    • 7th Feb 18, 1:50 PM
    Great, thank you - that adds up with the notes I took, just a shame I missed out the vital parts! Appreciate your help.
    • taskey
    • By taskey 10th Feb 18, 4:52 PM
    • 156 Posts
    • 439 Thanks
    taskey
    • #5
    • 10th Feb 18, 4:52 PM
    • #5
    • 10th Feb 18, 4:52 PM
    Hi all. I also have a Santander mortgage and am looking at making extra payments. Is it 500 each time? Or can I just "chip" away at it with bits here and there?

    Thanks
    Tracy
    1 a day for Xmas 2018 #9 107 17/3/18 | 2 savers club #11 32| 50p's #4 19 | FEB take lunch to work # 2/13
    FEB 18 10,917.80 - JAN 18 11,988.03 - DEC 17 12,328.25
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