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The impact of regular small overpayments onto your mortgage

Making regular small overpayments onto your mortgage via increasing your direct debit can have a significant impact on the total interest paid over the life of the loan. This is due to the compound interest effect.
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Most mortgages have an early repayment charge (ERC) period, however, during this period most allow you to overpay up to 10% of the outstanding balance. After the ERC period, you will be able to make any amount of overpayment without incurring a charge. 

 

Making regular overpayments can reduce the total amount of interest paid on the loan and help you pay off the mortgage faster. For example, if you have a 30-year mortgage with an interest rate of 4% and you make regular overpayments of £100 per month, you could save thousands of pounds in interest over the life of the loan, and pay it off in less time. 

 

It’s important to note that before making any overpayments, it’s always recommended to check with your lender if there are any penalties or restrictions for doing so. Additionally, it’s a good idea to make sure that you have enough savings in case of an emergency, and that you are not overstretching your budget by making overpayments. 

 

At The Mortgage Branch, we are here to help you secure the most suitable mortgage for you, whatever your situation.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT 

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When you put down roots, so do we.

Working with our long-standing charity partner, Gloucestershire Wildlife Trust, we pledge to plant a tree in your name when your mortgage completes.

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David arranged both our private & rental property mortgages along with other financial matters & made the whole process as straightforward & easy as possible for us.

He was utterly professional & took us step by step through each process taking a huge amount of the stress away from us.

We couldn’t recommend The Mortgage Branch highly enough we are so glad we found you!

Thank you so much!

Alex Carpenter

Miles and the team are incredibly professional and I absolutely love the fact that they plant a tree for every mortgage!

Thank you so much!

Lauren Gilberthorpe

A very professional and efficient service.

I would recommend The Mortgage Branch to anyone looking to arrange a mortgage, however difficult the circumstances might be.

Thank you so much.

Samantha Scott-White

Best ever mortgage service! Three mortgages were done without hassle! Miles always goes that extra mile to deliver the best possible advice and service!

Highly recommended, very happy customers!

Alex Kulakevich

I seriously can’t recommend these guys enough, my boyfriend and I are first time buyers and we were let down so many times by our first mortgage advisor, it got to the point where we were at the verge of giving up on a mortgage and just rent until our friends told us to go to David! I honestly wish we went to The Mortgage Branch first, they managed to get us a mortgage within a couple of weeks, David and Lawrie have continuously kept us up to date with what’s happening, they are unbelievably friendly, very helpful and understanding! I couldn’t be happier with their services!

4 months ago I was stressed out and deflated, now because of The Mortgage Branch they’ve made us excited again!

Thank you, thank you, thank you!

Jess Lee

My partner and I were looking to buy a new house and we were looking for the right deal that we could get during these uncertain times, were so glad that we contacted The Mortgage branch, Cheltenham who helped us get a great deal!

We dealt with both David and James who both couldn’t do enough for us!!

A* for customer service and done with a smile!

Curtis Russell

Excellent service throughout the whole re-mortgage process. I could not have asked for more.

Great to see that the service exceeds expectations!

David Jones

Friendly and very professional. This is just the best place for anyone who needs a mortgage.

A big thank you!

Nuno Pinto

Miles and his team at the mortgage branch are excellent.

They dealt with a re-mortgage for us super efficiently with no drama whatsoever.

A massive thumbs up from us, highly recommend

Adam Lagos

Excellent and very efficient service from Jake, no query too small.

Always available and always more than happy to help.

Highly recommended.

Gary Parrish

David was fundamental in my house purchase.

He went above and beyond what was expected of him. My case was particularly complex however David constantly sought out solutions and contacted other parties when necessary.

Aside from making the process really easy for me, he also found me great products. He is reliable, consistent and we found him very trustworthy.

I highly recommend David.

Az Yi

David did a fantastic job with my Mortgage application.

Being my first mortgage, he was patient and understanding with all my questions, and he even liaised with my accountants directly.

Would recommend!

Emily Chung

Miles and the team at The Mortgage Branch were fantastic, and couldn’t have been more helpful through the process.

Thanks!

Jamie Walters

The Mortgage Branch could not have been more professional, helpful and generally pleasant.

Great knowledge and felt very confident and assured throughout.

I am now a homeowner – so thank you very much indeed!

Daniel Davies

An absolutely superb and superior personal service taking the stress and pressure out of the house buying process.

Chris Barry

We’ve just dealt with Jake Aubertin at The Mortgage Branch and, not only was he an absolute pleasure to deal with, he was able to save us over £10k on our total mortgage repayment! No-fuss, no mess, just honest, helpful advice.

I cannot recommend enough.

Jonny Carr

Having recently re-mortgaged residential and BTL properties through the Mortgage Branch it’s refreshing to find a team who deliver what they promise.

The client really does come first and Miles has worked tirelessly to find the right deals for me which is why I have happily recommended him to a couple of business partners who have also received the same high level of service.

It doesn’t matter how simple or complex the requirement is, Miles and David have the expertise, commitment and customer focus to find the very right deal.

This is such a painless process when you have a professional onboard and I would have no hesitation in recommending them again.

Dave Surgenor