Mortgage overpayments
Save money and take years off your mortgage
Repaying more than your minimum monthly mortgage repayment could have an impact on the total amount you have to repay and could reduce the term of your mortgage.
You could make big savings whether you have an interest only or repayment mortgage:
- For interest only mortgages we will automatically reduce your normal monthly payment
- With repayment mortgages you can choose whether to reduce your monthly payment or if you are overpaying by more than £500, you could reduce the term of your mortgage. You will need to advise us of your preference when you make your overpayment.
No overpayment charges
You can overpay on all of our mortgages as standard, and not incur any penalties.
If you are in a fixed rate or a tracker rate which has early repayment charges (ERC), you can overpay by up to £500 per month. If you exceed this amount there will be an early repayment charge payable on the entire overpayment amount.
On our Base Mortgage Rate, Standard Mortgage Rate and a selection of our tracker rates, you can overpay by as much as you want, when you want.
Flexibility to make underpayments:
- Any overpayments you make build up a reserve that you can use to make underpayments in the future (conditions apply).
How to overpay
You can overpay regularly each month or make one-off payments. Any money you overpay is deducted from your balance the next working day.
By standing order: simply ask your bank to increase the amount you wish to pay
By cheque or cash: visit any of our branches, or post a cheque to us.
Make your cheque payable to Nationwide Building Society, followed by your name and mortgage account number and send it to: Nationwide Building Society, Mortgage Servicing, King’s Park Road, Moulton Park, Northampton NN3 6NW.
Online: If you are a FlexAccount holder, you can make overpayments online.
Payment details
To make payments into your mortgage directly from a bank account, you will need to quote the following details:
Sort code: 070094
Account number: 44444445
Reference number: Your mortgage account number