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How do overpayments affect my mortgage?

Overpayments help to reduce the balance of your mortgage and you will therefore pay less interest. Please note that overpayments do not directly reduce the term of your mortgage. This can only be done if you contact us to make an application. You should also check whether there is any restriction on how much you can overpay on your mortgage each year, which you can find in your mortgage offer/variation agreement.

Overpayments greater than or equal to £1,000 in a one off lump sum will automatically re-calculate your normal monthly payments to a lower figure. If less than £1,000 your monthly payment amount will remain the same, even where you make a number of overpayments that are each less than £1,000 but together add up to more than £1,000.

Use our overpayment calculator to see how much you could save by making either extra monthly payments or paying a lump sum to your mortgage. It is for illustrative purposes only and is based on a capital repayment mortgage.

If you wish to make an overpayment you can do so by logging in to Manage my Mortgage and selecting 'Make a payment' from the 'My payments' section of the 'My payments and services' menu. To log in you'll need your mortgage account number, surname, date of birth and mortgaged property's postcode. You can find your mortgage account number on your most recent mortgage statement, in the 'Account summary' section in online and mobile banking or on your mortgage offer documentation.

If you wish to discuss overpayments and what they mean to you, contact our Mortgage Team via online chat on our Manage Your Mortgage (opens in a new window) page, who will be happy to help you.

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