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How are overpayments applied if my mortgage has sub accounts?

Regular Monthly Overpayments

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. To see the potential effect of an overpayment to your mortgage use our simple overpayment calculator (opens in a new window).

Example: 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.

If you wish to change how your overpayment(s) are allocated, please call us.

Lump Sum Payment

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. To see the effect of an overpayment to your mortgage use our simple overpayment calculator (opens in a new window).

Example: We will allocate the lump sum payment to your account with the highest interest rate first. 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 you wish to change how your overpayment(s) are allocated, please call us. Open Monday to Friday 9am - 6pm, Saturday 9am - 4pm (excluding public holidays).

How do I make an overpayment on my mortgages?

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.