Overpayment Instruction

  • Thread starter Obi Wan Kenobi
  • Start date
O

Obi Wan Kenobi

Guest
Can someone please help me with the phrasing of an instruction to my mortgage provider to overpay my monthly contribution....i.e. I want to fix the amount at €x00 until such a time as I should be paying more than this and want the overpayment to offset the capital balance.

Thanks

Obi
 
You must be as precise as an imperial stormtrooper shooting Jawas.

"Please fix my regular monthly capital repayments at €x00 until further notice" - works for me.

Ask them for written comfirmation.
 
I am currently doing the same with BOI, and was told to say:-

" I wish to make an overpayment to my mortgage, by monthly instalments of " X " until futher notice. "

This way you are not committing yourself to a longterm agreement. Hope this is of help.

PS. Any advice on switching to a tracker mortgage with another lender??
 
I just had to suggest I was looking and they offered a .35% reduction...:)
 
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