Set up a regular overpayment
A regular overpayment is where you pay more than your normal mortgage payment each month.
Making regular overpayments will:
- reduce your mortgage balance
- save you interest.
You can’t get a refund on any overpayments you make.
How it works
Personalised overpayment calculator
Log in to online banking to
- Get accurate results based on your mortgage details.
- Get a result in 1 to 2 minutes.
- Make an overpayment straightaway if you want to.
Overpayment limits and early repayment charges (ERCs)
Your regular overpayment options
Choose one of these arrangements.
|
Standard arrangement |
Fixed arrangement |
|---|---|
|
Standard arrangement With this kind of arrangement, you can choose the amount you’d like to overpay by each month. This will then be collected on top of your normal monthly payment. For example, if your normal monthly payment is £400 and you choose to make a regular overpayment of £100, you’ll pay £500 in total. If your normal monthly payment changes to £500, you’ll pay £600 each month. The total amount you have to pay each month can vary, so it’s worth considering if this option is right for you. You’ll need to call us to apply overpayments to a specific sub-account. When choosing a sub-account, it’s worth thinking about its term, balance, interest rates, ERCs, and any other fees or charges that might apply. Your overpayments will continue until you tell us you’d like to stop or change your arrangement. |
Fixed arrangement This option allows you to choose a fixed amount to pay each month. This must be more than your normal monthly payment. For example, if your normal monthly payment is £400, you can fix it at £500, meaning you’ll make a regular overpayment of £100. If your normal monthly payment changes to £350, your overpayment will automatically adjust to £150. You’ll need to call us to set this up . You can’t apply your overpayments to a specific sub-account with this kind of arrangement. Your overpayments will continue until you tell us you’d like to stop or change your arrangement. But if your normal monthly payment goes above your fixed amount, we’ll cancel it. |
How to set up a regular overpayment
Before you start, you must be named on the mortgage to make a payment.
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You can easily set up a regular overpayment by direct debit in online banking. Simply log in to online banking to find your mortgage and follow these steps:
- more actions
- paying your mortgage
- manage regular overpayment.
Once complete, we’ll send you a letter to confirm your arrangement.
Not registered? You can register here to view and manage your mortgage.
Otherwise, you’ll need to call us to adjust your direct debit.
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To make regular overpayments by standing order from another bank, you’ll need these details:
- sort code: 30-00-00
- account number: 00353019
- account name: Lloyds Bank plc.
For the payment reference, input your mortgage account number, plus an extra ‘00’ on the end, so it’s 16-digits in total.
To make an overpayment to a sub-account, replace ‘00’ with the 2-digit sub-account number instead. For example ‘02’. Visit How do I apply my overpayment to a specific sub-account? for more information.
What happens after you set up a regular overpayment?
Getting started online
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