Overpaying your mortgage

Overpayment after a mortgage payment holiday

If you're in a better financial position after your Mortgage Payment Holiday then we’re really pleased that your circumstances have improved. You can make overpayments (regularly or as a lump sum) to your mortgage account to cover your missed payments. This overpayment is in addition to the overpayment facility already available on all non-flexible residential and BTL mortgages.  You can read more on how to do this here.

By paying a little extra regularly or a large lump sum, you can help reduce your overall mortgage balance and the amount of interest you will pay. You can overpay on all our mortgage products, including buy to let.

  • Reduce the amount you owe on your mortgage.
  • Reduce the overall interest you pay.
  • Reduce the term of your mortgage by speaking to one our our mortgage advisors.
  • Each year you can repay up to 10% of the balance outstanding as at 1st January.
  • Any product related redemption penalties would only apply to overpayments above the annual 10% limit.
  • When you make an overpayment, the amount you owe and the amount of interest you accrue is re-calculated immediately, however your monthly mortgage payment will remain unchanged unless you ask us to alter it.
  • If you have a flexible mortgage, you are able to overpay at any time during the life of your mortgage and your monthly payments would be recalculated at its regular 6 monthly review.

How to overpay on your mortgage

There many ways you can overpay on your mortgage, you can:

  • Set up a standing order
  • Make a payment over the phone
  • Pop into branch to pay by cash or cheque
  • Post a cheque to us
  • Complete an online bank transfer

We will not send confirmation of your overpayment, however you will see the overpayment made on the transaction history of your annual statement. If you would like to find out your overpayment allowance you can contact us on 0330 333 4000 or you can pop into a branch at any time.  

When paying directly from your bank, including by standing order, please quote the following details:

Account Number : 90653535

Sort Code : 20-18-23

Reference : Your Mortgage Account Number