You can pay a lump sum on an annual basis towards your mortgage to reduce your mortgage balance. For example, if you receive an annual bonus, you may wish to pay this towards your mortgage every year to reduce the balance.

The minimum amount you can deposit as an annual lump sum is £1,000. If you have a fixed rate mortgage, you can choose to overpay by 10% of your mortgage balance per year. Early repayment charges may apply.