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Ways we can help
An overpayment is an extra amount you choose to pay on top of your normal monthly payment. Overpaying means you can save money on the interest you pay by reducing the outstanding mortgage balance. It can also help reduce the amount you need to pay back at the end of the term. We don’t charge any early repayment charges, so there’s no limit to the amount you can overpay by. You can find out more about making overpayments and how to do this here.
Important things to consider:
- You should only overpay if you can afford to do so. If you’re unsure whether overpaying is right for you, you may wish to seek independent financial advice to help you with your decision.
- Overpaying might not pay back the full amount you owe by the end of the term. We recommend that you review your repayment plans at least once a year.