An overpayment is money paid into your mortgage, on top of your monthly contractual payment. This is optional and there is no requirement for you to make any additional payments. You can choose to overpay regularly into your mortgage alongside your monthly direct debit or make ad hoc overpayments using our dashboard.

Overpayments allow you to pay down your mortgage faster and ultimately become debt free sooner. Unlike your monthly committed payments, interest is not applied to overpayments so this means 100% of what you pay goes straight into your equity stake in the property.

The interest saved by making overpayments is typically a bigger saving, compared to interest received from any standard current account or cash ISA.

Please note, once you make an overpayment into your mortgage, you will not be able to withdraw those funds.

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