If you request to borrow back some, or all, of your overpayment reserve, your balance will increase resulting in higher monthly repayments.
When you borrow back, your monthly payments will be recalculated from the 1st of the following month an we’ll start to charge interest on the new balance the day after the money is sent.
If your monthly mortgage payments are made by Direct Debit we’ll automatically change your payment amount. If you make payments by standing order or any other method (e.g. cash/cheque), you’ll need to change your monthly payment to the new amount.