Brendan Burgess
Founder
- Messages
- 52,118
Hi, yes their t&c's allow for 10% of the balance at the start of that year (so in your example 30k in year 1, 27k in year 2, etc). Either lump sum or regular payment are allowed.Can anyone confirm that they really mean 10% overpayment on outstanding balance? as in 300k mortgage and you can overpay by 30k per year charge free? can it be installments or lump sum?
Couldn't agree more Tony - customer inertia is a banker's best friend.It might shake them but the other thing that needs to happen is switching and lots of it.
Possibly a daft question but this is all new to. We’ve recently been approved by UB for mortgage and we were looking at fixing for 5 years at 2.9 (LTI 3.8). Can we change our minds and go with this 2.3% for 2 years? We haven’t received or signed any documents.
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