Overpayment Instruction

[Obi Wan Kenobi]

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

 

[Repaymentator]

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.

 

[emnc]

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??

 

[Obi Wan Kenobi]

I just had to suggest I was looking and they offered a .35% reduction...