How do I make a mortgage overpayment?

Find out how to make an overpayment on your Gen H mortgage here.

Written by April Stephenson
Updated over a week ago

If you are wanting to make an overpayment, you can reach out to us via email or live chat.

You can also request to make an overpayment via your dashboard. Here you can see the difference your overpayment will make to the length of your mortgage term (If you choose for the overpayment to go towards shortening the term rather than reducing your monthly payment.)

Once you have done so, you will be passed to a member of our team to action this for you.

Information we will need from you:

  • The amount you would like to overpay

  • Is this overpayment a one-off or recurring payment?

  • When you would like to make this payment?

  • Would you like this to go towards shortening your term or reducing your monthly payment?

  • Would you like this to come from the same account you pay your mortgage?

  • Depending on the size of your overpayment, we may need to know where these funds have originated from. We may also need to see evidence of this via bank statements.

Once you have confirmed the above, our servicing team will action your overpayment request for you. It can take up to 5 working days from your chosen payment date for the funds to clear. This will also update to reflect on your dashboard so you can keep an eye on 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) with no Early Repayment Charges 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 years 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.

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