If you’d like to make an overpayment, you can set this up from your Gen H dashboard. Just log in and select ‘Make an overpayment’ to get started.
If you’d like to make a large overpayment, or you’d like to use your overpayment to reduce your monthly payments, you should reach out to us via email or chat.
We will need the following information from you:
How much would you like to overpay?
Is this overpayment a one-off or recurring payment? We’ll take one-off payments ASAP and collect recurring overpayments on your usual monthly payment date.
Unless you’ve told us otherwise, we’ll automatically use your overpayments to reduce your mortgage term because this saves you the most money over the life of your loan.
We’ll collect your payment from the same account you use for your monthly payments.
Occasionally, we might need more detail around the source of your overpayment funds. We may also need to see evidence of this via bank statements.
Once you’ve confirmed the above, our servicing team will process your overpayment request for you. It may take up to 5 business days from your chosen payment date for the funds to clear. Your dashboard will also be updated to show how much you’ve overpaid.
How much can I overpay?
You can overpay up to 10% of your loan balance (the balance when your current fixed initial interest rate started) without incurring Early Repayment Charges.
Please note we require 5 working days notice before your mortgage anniversary for your overpayment to apply to the current year's allowance.
You can find more information on the benefit of overpayments here.
If you have any questions on this at all, reach out to the team via chat or email.