Save money and you could take years off your mortgage

Making overpayments is a great way for you to save money over the term of your mortgage. Any payment made over and above your normal monthly mortgage payment will reduce your outstanding balance, save you interest and could reduce the term of your mortgage.

A feature of a mortgage where any overpayments made may be withdrawn and borrowed back.  Any overpayments will have already reduced the balance outstanding, so when it is borrowed back the balance will increase. Interest will be charged on the higher balance and monthly payments will also increase. All requests to borrow back overpayments are subject to an eligibility assessment and current lending criteria. (Consent from all applicants is required.)

Not all of our products have the borrow back feature, for example Consumer Credit Act 1974 regulated accounts do not benefit from this feature.

All mortgages reserved on or before 3rd March 2010 include the option to borrow back, subject to eligibility. Any mortgages reserved after this date do not include this facility.
If you would like to borrow back funds please contact Nationwide Direct on 08456 06 07 01.

Making underpayments

By making overpayments to your mortgage account, you can improve your flexibility when it comes to underpaying in the future. Any overpayments you make within your product’s overpayment allowance, will contribute to and build up an overpayment reserve. So if you find you want some flexibility with your monthly payments for a few months, your overpayment reserve can cover your monthly payments, or allow you to ‘underpay’ by reducing your monthly mortgage payment.

Terms and conditions apply, please contact us on 08457 30 20 10 for more information. We are available; Mon - Fri 8am-8pm and Sat 9am-5pm.

How to make overpayments

To find out more about making overpayments, please begin by selecting the type of customer you are:

Choose your mortgage type

Fixed rate

Repayment (capital & interest)

For mortgages reserved prior to 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of £500 or less No. You can make overpayments of £500 or less per month without incurring an Early Repayment Charge (ERC) If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the end of your fixed rate period. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than £500 Yes. If you overpay by £500.01 or more in one month, you will incur an Early Repayment Charge (ERC), which is payable on the entire overpayment amount. Our ERCs have changed over time so please refer to your mortgage terms and conditions for details of the ERC that applies to your mortgage. We will reduce your payment the following month.

For mortgages reserved after 29 May 2013

Will I incur any charges? When will my monthly payment be reduced?
Overpayments of 10% or less No. You can make overpayments of 10% or less of your original mortgage balance per mortgage anniversary year without incurring an Early Repayment Charge (ERC) If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the end of your fixed rate period. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than 10% Yes. if you overpay by more than 10% in a mortgage anniversary year you will incur an Early Repayment Charge (ERC) on the amount above your overpayment allowance and not on the full overpayment amount. Our ERCs have changed over time so please refer to your mortgage terms and conditions for details of the ERC that applies to your mortgage. We will reduce your payment the following month.

Overpayment options

Overpayments of £500 or less Overpayments of more than £500
What are my options? If you overpay by exactly £500, your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same and reduce your term instead. If you would like to reduce your term, please let us know when you make your overpayment.

If you overpay by less than £500, this will reduce the outstanding balance but your monthly payment won't reflect this straight away (see 'when will my monthly payment be reduced' above).
Your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same and reduce your term instead.

If you would like to reduce your term, please let us know when you make your overpayment.

Interest only

For mortgages reserved prior to 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of £500 or less No. You can make overpayments of £500 or less per month without incurring an Early Repayment Charge (ERC) If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the end of your fixed rate period. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than £500 Yes. If you overpay by £500.01 or more in one month, you will incur an Early Repayment Charge (ERC), which is payable on the entire overpayment amount. Our ERCs have changed over time so please refer to your mortgage terms and conditions for details of the ERC that applies to your mortgage. We will reduce your payment the following month.

For mortgages reserved after 29 May 2013

Will I incur any charges? When will my monthly payment be reduced?
Overpayments of 10% or less No. You can make overpayments of 10% or less of your original mortgage balance per mortgage anniversary year without incurring an Early Repayment Charge (ERC) If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the end of your fixed rate period. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than 10% Yes. if you overpay by more than 10% in a mortgage anniversary year you will incur an Early Repayment Charge (ERC) on the amount above your overpayment allowance and not on the full overpayment amount. Our ERCs have changed over time so please refer to your mortgage terms and conditions for details of the ERC that applies to your mortgage. We will reduce your payment the following month.

Overpayment options

Overpayments of £500 or less Overpayments of more than £500
What are my options? If you overpay by exactly £500, your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further. If you would like your payment to remain unchanged, please let us know when you make your overpayment.

If you overpay by less than £500, this will reduce the outstanding balance but your monthly payment won't reflect this straight away (see 'when will my monthly payment be reduced' above).
Your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further.

If you would like your payment to remain unchanged, please let us know when you make your overpayment.

Part and part

For mortgages reserved prior to 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of £500 or less No. You can make overpayments of £500 or less per month without incurring an Early Repayment Charge (ERC) If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the end of your fixed rate period. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than £500 Yes. If you overpay by £500.01 or more in one month, you will incur an Early Repayment Charge (ERC), which is payable on the entire overpayment amount. Our ERCs have changed over time so please refer to your mortgage terms and conditions for details of the ERC that applies to your mortgage. We will reduce your payment the following month.

For mortgages reserved after 29 May 2013

Will I incur any charges? When will my monthly payment be reduced?
Overpayments of 10% or less No. You can make overpayments of 10% or less of your original mortgage balance per mortgage anniversary year without incurring an Early Repayment Charge (ERC) If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the end of your fixed rate period. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than 10% Yes. if you overpay by more than 10% in a mortgage anniversary year you will incur an Early Repayment Charge (ERC) on the amount above your overpayment allowance and not on the full overpayment amount. Our ERCs have changed over time so please refer to your mortgage terms and conditions for details of the ERC that applies to your mortgage. We will reduce your payment the following month.

Overpayment options

Overpayments of £500 or less Overpayments of more than £500
What are my options? If you overpay by exactly £500, your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further. If you would like your payment to remain unchanged, please let us know when you make your overpayment.

If you overpay by less than £500, this will reduce the outstanding balance but your monthly payment won't reflect this straight away (see 'when will my monthly payment be reduced' above).

Your overpayment automatically reduces the repayment part of your mortgage. If you want to reduce the interest only part, please let us know when you make your overpayment.
Your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further. If you would like your payment to remain unchanged, please let us know when you make your overpayment.

Your overpayment automatically reduces the repayment part of your mortgage. If you want to reduce the interest only part, please let us know when you make your overpayment.

Tracker rate

Interest only

For mortgages reserved prior to 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of £500 or less No. You can make overpayments of £500 or less per month without incurring an Early Repayment Charge (ERC). If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than £500 Most of our tracker mortgages have an Early Repayment Charge (ERC) if you overpay by £500.01 or more in one month, which is payable on the entire overpayment amount. However, not all of our tracker mortgages have an ERC so please check your mortgage terms and conditions for more information. We will reduce your payment the following month.

For mortgages reserved after 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of 10% or less No. You can make overpayments of 10% or less of your original mortgage balance per mortgage anniversary year without incurring an Early Repayment Charge (ERC). If you overpay by more than £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than 10% Most of our tracker mortgages have an Early Repayment Charge (ERC) if you overpay by more than 10% of your original mortgage balance per mortgage anniversary year, However, not all of our tracker mortgages have an ERC so please check your mortgage terms and conditions for more information. We will reduce your payment the following month.

Overpayment options

Overpayments of £500 or less Overpayments of more than £500
What are my options? If you overpay by exactly £500, your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further. If you would like your payment to remain unchanged, please let us know when you make your overpayment.

If you overpay by less than £500, this will reduce the outstanding balance but your monthly payment won't reflect this straight away (see 'when will my monthly payment be reduced' above).
Your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further.

If you would like your payment to remain unchanged, please let us know when you make your overpayment.

Part and part

For mortgages reserved prior to 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of £500 or less No. You can make overpayments of £500 or less per month without incurring an Early Repayment Charge (ERC). If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than £500 Most of our tracker mortgages have an Early Repayment Charge (ERC) if you overpay by £500.01 or more in one month, which is payable on the entire overpayment amount. However, not all of our tracker mortgages have an ERC so please check your mortgage terms and conditions for more information. We will reduce your payment the following month.

For mortgages reserved after 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of 10% or less No. You can make overpayments of 10% or less of your original mortgage balance per mortgage anniversary year without incurring an Early Repayment Charge (ERC). If you overpay by more than £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than 10% Most of our tracker mortgages have an Early Repayment Charge (ERC) if you overpay by more than 10% of your original mortgage balance per mortgage anniversary year, However, not all of our tracker mortgages have an ERC so please check your mortgage terms and conditions for more information. We will reduce your payment the following month.

Overpayment options

Overpayments of £500 or less Overpayments of more than £500
What are my options? If you overpay by exactly £500, your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further. If you would like your payment to remain unchanged, please let us know when you make your overpayment.

If you overpay by less than £500, this will reduce the outstanding balance but your monthly payment won't reflect this straight away (see 'when will my monthly payment be reduced' above).

Your overpayment automatically reduces the repayment part of your mortgage. If you want to reduce the interest only part, please let us know when you make your overpayment.
Your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further. If you would like your payment to remain unchanged, please let us know when you make your overpayment.

Your overpayment automatically reduces the repayment part of your mortgage. If you want to reduce the interest only part, please let us know when you make your overpayment.

Repayment (capital & interest)

For mortgages reserved prior to 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of £500 or less No. You can make overpayments of £500 or less per month without incurring an Early Repayment Charge (ERC). If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than £500 Most of our tracker mortgages have an Early Repayment Charge (ERC) if you overpay by £500.01 or more in one month, which is payable on the entire overpayment amount. However, not all of our tracker mortgages have an ERC so please check your mortgage terms and conditions for more information. We will reduce your payment the following month.

For mortgages reserved after 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of 10% or less No. You can make overpayments of 10% or less of your original mortgage balance per mortgage anniversary year without incurring an Early Repayment Charge (ERC). If you overpay by more than £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than 10% Most of our tracker mortgages have an Early Repayment Charge (ERC) if you overpay by more than 10% of your original mortgage balance per mortgage anniversary year, However, not all of our tracker mortgages have an ERC so please check your mortgage terms and conditions for more information. We will reduce your payment the following month.

Overpayment options

Overpayments of £500 or less Overpayments of more than £500
What are my options? If you overpay by exactly £500, your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same and reduce your term instead. If you would like to reduce your term, please let us know when you make your overpayment.

If you overpay by less than £500, this will reduce the outstanding balance but your monthly payment won't reflect this straight away (see 'when will my monthly payment be reduced' above).
Your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same and reduce your term instead.

If you would like to reduce your term, please let us know when you make your overpayment.

Base Mortgage Rate (BMR)/Standard Mortgage Rate (SMR)

Interest only

For mortgages reserved prior to 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of £500 or less No, you can overpay by as much as you like, when you like. If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than £500 No, you can overpay by as much as you like, when you like. We will reduce your payment the following month.

For mortgages reserved after 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of 10% or less No, you can overpay by as much as you like, when you like. If you overpay by more than £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than 10% No, you can overpay by as much as you like, when you like. We will reduce your payment the following month.

Overpayment options

Overpayments of £500 or less Overpayments of more than £500
What are my options? If you overpay by exactly £500, your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further. If you would like your payment to remain unchanged, please let us know when you make your overpayment.

If you overpay by less than £500, this will reduce the outstanding balance but your monthly payment won't reflect this straight away (see 'when will my monthly payment be reduced' above).
Your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further.

If you would like your payment to remain unchanged, please let us know when you make your overpayment.

Part and part

For mortgages reserved prior to 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of £500 or less No, you can overpay by as much as you like, when you like. If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than £500 No, you can overpay by as much as you like, when you like. We will reduce your payment the following month.

For mortgages reserved after 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of 10% or less No, you can overpay by as much as you like, when you like. If you overpay by more than £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than 10% No, you can overpay by as much as you like, when you like. We will reduce your payment the following month.

Overpayment options

Overpayments of £500 or less Overpayments of more than £500
What are my options? If you overpay by exactly £500, your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further. If you would like your payment to remain unchanged, please let us know when you make your overpayment.

If you overpay by less than £500, this will reduce the outstanding balance but your monthly payment won't reflect this straight away (see 'when will my monthly payment be reduced' above).

Your overpayment automatically reduces the repayment part of your mortgage. If you want to reduce the interest only part, please let us know when you make your overpayment.
Your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same, which means you will pay more than the amount required each month and reduce the outstanding balance further. If you would like your payment to remain unchanged, please let us know when you make your overpayment.

Your overpayment automatically reduces the repayment part of your mortgage. If you want to reduce the interest only part, please let us know when you make your overpayment.

Repayment (capital & interest)

For mortgages reserved prior to 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of £500 or less No, you can overpay by as much as you like, when you like. If you overpay by exactly £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than £500 No, you can overpay by as much as you like, when you like. We will reduce your payment the following month.

For mortgages reserved after 29 May 2013

Overpayment allowance Will I incur any charges? When will my monthly payment be reduced?
Overpayments of 10% or less No, you can overpay by as much as you like, when you like. If you overpay by more than £500, we will reduce your payment from the following month. If you overpay by less than £500, your monthly payment will be reduced at the next rate change. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.
Overpayments of more than 10% No, you can overpay by as much as you like, when you like. We will reduce your payment the following month.

Overpayment options

Overpayments of £500 or less Overpayments of more than £500
What are my options? If you overpay by exactly £500, your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same and reduce your term instead. If you would like to reduce your term, please let us know when you make your overpayment.

If you overpay by less than £500, this will reduce the outstanding balance but your monthly payment won't reflect this straight away (see 'when will my monthly payment be reduced' above).
Your overpayment will automatically reduce your monthly payment. Alternatively, you can choose to keep your monthly payment the same and reduce your term instead.

If you would like to reduce your term, please let us know when you make your overpayment.

How to overpay

You can overpay regularly each month or make one-off payments. Any money you overpay is deducted from your balance immediately and the interest on your new balance is charged 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.
Call us: on 0800 030 40 49 to make a one off payment or to amend your existing Direct Debit.

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

Former Portman mortgage customers

If you are a former Portman Building Society customer whose mortgage product was taken out before 28 August 2007 and your original deal term has not yet expired, you may be able to make limited overpayments. The amount you can overpay in any 12 month period, before an Early Repayment Charge (ERC) is payable, is usually restricted to a certain percentage of the loan. Please refer to your terms and conditions for details.

If you are a former Portman Building Society mortgage customer and your original deal term has expired or you have switched to a Nationwide mortgage, please reselect 'Nationwide mortgage customer' from the buttons above.

CCA regulated mortgages

Sorry but you cannot make overpayments on your mortgage.