Platform overpayment

[WildHorsesRunInMe]

Hi I'm after some advice on overpaying my mortgage with Platform. I recently made an overpayment on my mortgage. I've had a letter from them this morning saying my monthly payments going forward will be reduced. When I called them to say I want to keep the payments the same they weren't very helpful and told me I'd need an affordability check as that would be reducing the term. So my question is would it have the same impact on my term if I just make monthly overpayments to take it back up to what it is currently? Are there any drawbacks to doing it this way?

What do the T & Cs say about overpaying, is there a limit? Provided you are allowed to, ignore the recalculated figure and carry on paying the same monthly amount as now. Each time there is a change they will recalculate based on your original term, the figure is the minimum you must pay but you can usually pay more.

Eventually you will reach a point when you can easily pay off your mortgage and you then need to ask for a redemption figure. If it has a lot of add ons for not going to full term, reduce payments to the minimum and see out the life of the mortgage. I overpaid and for about 3 years was paying £5 a month before redeeming my mortgage. Obviously the rest of the mortgage payment I put in savings.

HTH