Overview

What are overpayments?

Overpayments are a great way for you to save money over the term of your mortgage. Whether you decide to pay off a lump sum or pay off a bit extra each month, any overpayments you make will reduce your outstanding balance, save you interest and could help shorten the time you have left to pay for your mortgage.

If you make an overpayment of £500 or more, we'll recalculate your monthly payment the following month. If you have a capital repayment mortgage, you can choose to keep your payments the same and reduce your mortgage term instead. We’ll automatically reduce your payments so you'll need to let us know if you want future overpayments to reduce your term instead. You can change this preference at any time. You can tell us via the Internet Bank or give us a call.

You may be charged an Early Repayment Charge (ERC) for making an overpayment

You'll find details of any ERC payable in your original mortgage offer. If you can't find your original mortgage offer, your annual mortgage statement will show any applicable ERC at the date of the statement.


Flexibility of overpayments

Borrowing back overpayments

You may have the option to borrow back all or part of the overpayment reserve. Any overpayments will have already reduced the balance outstanding, so when it is borrowed back the balance will increase. If you would like to borrow back funds call us on 0800 30 20 11.

Underpaying your mortgage

Making overpayments contributes to, and builds up, an overpayment reserve. So if you want the flexibility to use your overpayment reserve to underpay in the future, you can.


How to make overpayments

Payment from your Nationwide current account

Overpaying your mortgage from your Nationwide current account

To set up regular overpayments by Direct Debit from your Nationwide current account, either call us on 0800 30 20 11, send us a secure message,visit your local branch or write to us at:

Nationwide Building Society
Mortgage Servicing 
King's Park Road
Moulton Park
Northampton 
NN3 6NW

One-off overpayments can only be made by secure messagevisiting your local branch or writing to us at the address above.

If you have specified how long you would like to make overpayments for, when that period ends you will automatically go back to your agreed monthly payment - we'll let you know by letter. If you haven’t told us how long you’d like to overpay for, the overpayments will continue until you tell us otherwise.

    Payment from another bank or building society

    Overpay your mortgage using a standing order

    You can overpay your mortgage from another bank or building society account, just give them a call and ask them to increase your monthly payments. 

    What they'll need:

    • Sort code: 070094
    • Account number: 44444445 
    • Reference: Your mortgage account number (you can find this on your annual statement)

    Making a one-off payment

    You can pay off a lump sum online with a CHAPS Payment or by using multiple quick/single payments, providing you have sufficient cleared funds available.

    What you'll need to make the payment:
    Sort code: 070094
    Account number: 44444445 
    Reference: Your mortgage account number (you can find this on your annual statement)

      Whether you choose to pay off a lump sum or pay off a bit each month, your new balance shows immediately and the interest is charged the next working day. This only applies to payments of £1 or more.

      By Direct Debit

      Overpay by Direct Debit from your current account

      To set-up regular overpayments by Direct Debit from your current account, either call us on 0800 30 20 11, send us a secure message, visit your local branch or write to us at:

      Nationwide Building Society
      Mortgage Servicing 
      King's Park Road
      Moulton Park
      Northampton 
      NN3 6NW

      One-off overpayments can only be made by secure messagevisiting your local branch or writing to us at the address above.

      If you have specified how long you would like to make overpayments for, when that period ends you will automatically go back to your agreed monthly payment - we'll let you know by letter. If you haven’t told us how long you’d like to overpay for, the overpayments will continue until you tell us otherwise.

      Whether you choose to pay off a lump sum or pay off a bit each month, your new balance shows immediately and the interest is charged the next working day. This only applies to payments of £1 or more.

      By cheque

      Write a cheque to overpay your mortgage

      Make your cheque payable to Nationwide Building Society, followed by your name and mortgage account number. You can find out more about how to write cheques to Nationwide on our payments and transfers pages.

      The address to send your cheque to is:

      Nationwide Building Society
      Mortgage Servicing 
      King's Park Road
      Moulton Park
      Northampton 
      NN3 6NW

      Whether you choose to pay off a lump sum or pay off a bit each month, your new balance shows immediately and the interest is charged the next working day. This only applies to payments of £1 or more.

      With cash

      Overpay your mortgage with cash

      If you're paying by cash, you'll need to visit us in branch. 

        Whether you choose to pay off a lump sum or pay off a bit each month, your new balance shows immediately and the interest is charged the next working day. This only applies to payments of £1 or more.

        Find out more

        Check out our FAQs for more information, or get in touch.

        Contact us

        Visit us in branch

        If you need to speak to a member of staff, pop into any branch. Use our branch finder to find your nearest location.

        Contact us

        Give us a call

        If you can't find what you need on this page or in the FAQs, call us on 0800 30 20 11 and we'll be happy to help.

        Frequently asked questions