We calculate the interest on your mortgage daily so all overpayments will reduce the interest you pay the following day.
For overpayments of less than £500 per month:
We'll reduce your minimum monthly payments at the next natural recalculation point, such as an interest rate change or product expiry.
For single overpayments of £500 or more per month:
We'll automatically reduce your minimum monthly payments the following month.
You can change or cancel the way your overpayments affect your mortgage. We call this changing your overpayment preference.
You are in control of your overpayment preferences – you can tell us how you want your overpayment money to be used to best suit your individual mortgage needs. For example, reduce monthly payments, reduce term (excluding interest only) or keep both the payments and term the same.