You’ll see any impact on your monthly payments before you agree to make a payment. If we do reduce your monthly payments, the term of your mortgage will stay the same and you will pay off your mortgage in the same amount of time. If you make a lump sum overpayment, we may recalculate your contractual monthly payment to reflect the reduced balance. When you use this service, you’ll see all the information you need, including your remaining annual allowance if you have a fixed interest rate.Underneath the sub menu 'My payments' choose the 'make a payment (Overpayment, missed mortgage payment or manual mortgage payment)' option and select 'lump sum overpayment'. Just select 'My payments and services' from the main menu. You can make a lump sum overpayment by also logging in to Manage Your Mortgage. Just select 'My payments and services' from the main menu and then choose 'My payments' You can use our overpayment calculator found in our online service portal Manage Your Mortgage, to help you work out how much you can save. There are two ways to make an overpayment to your mortgage, either by making a lump sum payment or by making regular extra monthly overpayments.Open Monday to Friday 8am - 8pm, Saturday 9am - 4pm (excluding public holidays). If you wish to change how your overpayment(s) are allocated, please contact us.Ġ345 72 12 600, Relay UK - 18001 0345 72 12 600. Please note, if you have a mixture of Interest Only and Capital Repayment sub accounts, we will allocate the lump sum payment to the Interest Only account with the highest interest rate first. If no instructions are provided, your lump sum payment will be allocated to your mortgage sub account (s) in a way that is most beneficial to you.įor example, we will allocate the lump sum payment to your account with the highest interest rate first. If you wish to change how your overpayment(s) are allocated, please call us. Your overpayment(s) will be allocated to your mortgage sub account(s) in the same way that your normal monthly payment is split across your sub-accounts.Įxample: If 40% of your monthly payment is allocated to sub-account 1, with the remaining 60% allocated to sub-account 2, any overpayments will be split in the same way. Your home or property may be repossessed if you do not keep up repayments on your mortgage. It doesn’t include all the information you need to compare mortgages, so please ask for a mortgage illustration before choosing a mortgage. It also doesn’t take into account any charges for early repayments and is based on a capital repayment mortgage only. It won’t give you a definite figure of how much interest or time you could save paying back your mortgage. Please note this calculator should be used as a guide only.
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