How can I make an overpayment online?
You can pay extra in three ways. You’ll see how much you can pay in each instance. You may have to pay an ERC if your mortgage rate is fixed and you go over your allowance – see above.
1. Your hub
- You can pay up to £99,999 to each account that makes up your mortgage
- You must use a UK debit card from a bank account that’s in your own name or joint with someone else
- You can also choose:
- Which account you want to pay into
- To reduce your monthly mortgage payment or length of your mortgage. If you have an interest only mortgage you can only reduce your monthly payment
- See how much you can pay without paying an ERC, or how much your ERC might be
- The account you pay into will lock for up to seven days while your payment is being processed.
Log in or register for your hub today, to get started.
2. Our website
- You can pay up to £12,000, using the button near the bottom of this page
- We’ll spread the funds across your accounts if you have more than one, so you’re put in the best financial position. You must get in touch if you want them applied to a specific account
- Your funds will be used to reduce your monthly payment
- It can take up to five days for your payment to show on your account.
3. Your bank
- You can pay any amount from your bank account
- It can take up to five days for your payment to show on your account
- See below for more details.
When making your payment, please remember:
- Your payment must be made by 6pm on the last day of the month if you want it applied to your account in the same month
- Your payment will be applied the following month if you pay it between 6pm and midnight on the last day of the month. This means your payment won’t be included when we add the interest to your mortgage for the current month.
Please get in touch if you’re visually impaired and use a screen reader.
How can I overpay from my bank account?
You can pay extra on your mortgage by:
- Standing Order. You can set this up to pay the same amount regularly
- Bank transfer i.e. BACS or CHAPS. You send the money yourself.
You can do this using:
- Your bank’s app,
- Their website, or
- By calling them.
What will I need to pay from by bank account?
- Our bank details. You can find these by logging in to your hub, then go to Tools and select How can I make an online payment? Having these details in your hub helps to keep your money and us safe from fraud
- Your mortgage account number. This in in your hub or on your Annual Mortgage Statement
- The postcode of the mortgaged property
- Your payment card.
As you’ll need to log into your hub to get our bank details, you might find it easier to just make the payment there. See point 1 above for more information.
Don’t forget:
- You must get in touch each time you make an overpayment from your bank. This makes sure we apply the funds quickly, so you pay less interest
- This won’t affect your credit score
- Get in touch if you use a screen reader, so we can help.
Can I pay by credit card?
You can pay by credit card using our website, but you should bear in mind:
- Your card company may charge you fees and interest for making the payment
- Once you make a payment, it can’t be refunded
- Using a credit card might lead to more debt.
Visit our help and support page if you’re struggling to pay your mortgage.
What happens when I make an overpayment?
When you pay extra how it’s applied to your account will depend on the type of mortgage you have and how you pay it.
1. Use your hub to:
- Choose which account you want your funds paid into
- If you have a repayment mortgage, choose to:
- Pay less each month, or
- Shorten the length of your mortgage
- You can only lower your monthly payment if you have an interest only mortgage.
2. Pay using our website or bank transfer:
- Your payment will be spread across your accounts if you have more than one, so you’re put in the best financial position
- We can only lower your monthly payment. You can’t choose to shorten the length of your mortgage.
Is there anything else I need to know?
- You need to make a single payment of £500 or more for it to come off what you owe us.
- If you pay less, your funds will wait in your account until the total balance adds up to £500. For example, if you pay an extra £100 each month, your payment will go down after five months. Until then, you’ll pay less interest, but your monthly payment will stay the same.
- Your new payment or term will start the month after your overpayment is applied to your account. So if your overpayment is applied in June, the change will start in July.
- We’ll always send you a letter before anything changes.
You can find out more on our ways to pay page.