If you overpay your mortgage does that mean you can take a break from paying later on?

[Willtheymakemegoonthemeds]

Not sure if I'm just being dim but if I overpay my mortgage does that mean if later on down the line I lose my job or something will I be able to not pay the mortgage because its already been paid? or is it a once its gone its gone deal?

I wouldn’t have thought so, it’s a choice to overpay, but the usual amount would need to be paid each month I expect.

I wouldn’t have thought so, it’s a choice to overpay, but the usual amount would need to be paid each month I expect.

Saying stuff like that is just misleading

As others have said it entirely depends on your provider and the mortgage you have. I over pay and it goes into a fund which offsets the mortgage. Obviously I don't want to but I can use that to cover the interest payments in an emergency.

... obviously you can't just decide not to pay one month, you need to contact them and make the arrangements.

My mortgage is with Nationwide and they allow payment holidays if you have a reserve built up. We used this for 3-4 months a few years back when we had a lot of expenses and would have gone overdrawn otherwise. We now a have significant overpayment reserve of c.£30k so we could take another holiday if we ever needed to, although fingers crossed our finances are a bit easier now.

Yes. In my case this is true

@Tayegete

My mortgage is with Nationwide and they allow payment holidays if you have a reserve built up. We used this for 3-4 months a few years back when we had a lot of expenses and would have gone overdrawn otherwise. We now a have significant overpayment reserve of c.£30k so we could take another holiday if we ever needed to, although fingers crossed our finances are a bit easier now.

Just to clarify it's not a payment holiday it's underpaying using your built up overpayment pot.