Overpayments

Payments can be made online, by phone, in your local branch or by post. If you plan to make an online payment, please contact us on 02890 821 670 for instructions on how to do so.

You can make overpayments as often as you wish, without incurring any early repayment charges

 You can choose to reduce your monthly repayments (keeping the length of your mortgage the same) or reduce the length of your mortgage (keeping your monthly repayments the same). You should let us know your preference in writing before you make an overpayment.

If you do not indicate your preference before you make an overpayment, then we will reduce your monthly repayment.” 

If you have a multipart mortgage account, please let us know how you would like the overpayments to be split across each part.

You should confirm your current mortgage balance before making any overpayment. This will help you decide how much of an overpayment to make, without incurring an early repayment charge.  The team can assist you with your options.

Once you have confirmed your current mortgage balance and decided on how much you would like to overpay, you can make your overpayment online, by phone, in your local branch or by post.

If you plan to make your overpayment online, please contact us on 02890 821 670 for instructions on how to do so.

Contact our dedicated mortgage team on 02890 821 670 to confirm your current mortgage balance.

You can overpay up to 10% of your outstanding mortgage balance without incurring any charges.  If you go over this limit, an early repayment charge will apply.

For any overpayment of more than 10% of your outstanding mortgage balance, an early repayment charge will apply as outlined in your mortgage offer. Contact our dedicated mortgage team on 02890 821 670 to discuss further.

You can make one overpayment per calendar year (January to December) without incurring an early repayment charge

If you make more than one overpayment per calendar year an early repayment charge will apply as outlined in your mortgage offer. Contact our dedicated mortgage team on 02890 821 670 to discuss further..

On receipt of the overpayment, and allocation to your mortgage account, we will recalculate your mortgage balance and the amount of interest you will pay.

Your monthly repayments will be reduced after your next monthly repayment.

Your mortgage may be made up of multiple parts (for example, you took out additional borrowing after your initial mortgage). You can make overpayments of up to 10% of the outstanding balance of each part during any fixed rate period. However,

• If you choose to overpay 10% of the outstanding balance of each part of your Mortgage, the overpayment will be automatically shared between each part, in proportion to their outstanding balances.
• If you choose to overpay less than 10% of the outstanding balance of each part of your Mortgage, you can decide how the overpayment is shared between them. However, no more than 10% of the outstanding balance of any part can be overpaid, without incurring an early repayment charge..

The examples below illustrate how overpayments are applied where your mortgage has multiple parts