Does anyone konw if you can make additional payment to your mortgage using a visa card??

Thanks in advance

I think it will depend on which lender you are with though. If it's an additional payment you normally need to go into a branch to make it as they need to input a code (make sure they do!)

I suppose if they take Visa over the counter then you are fine.

I would think highly unlikely because visa deduct a percentage one way to do it is to transfer a balance from your visa card to your current account and you will find this is a very expensive way you can also do it by drawing the cash out at atm and put into your current account and then transfer the money from there but as I have said it is a rather expensive way to pay your mortgage especially if you want to pay a large amount

wouldn't that depend on if the cash was already there in the visa?? Also doesn't a cash withdrawal from a visa incur the same kind of charges?

depends on the mortgage company but i know most only take additional payments if you are in arrears. If you are not and want to make just an additional payment then i would find out if you can without incurring fees. Some companies of you make overpayments make charges and this usually cancels out your payment!

you can always make an additional payment without being charged as far as I am aware and in my experience. It's a capital repayment.

To be honest, this seems a weird way to make an extra payment on your Mortgage.

The interest rate on your card will be such that it's almost certain to wipe out any savings you'll make on interest on your mortgage?

I may be wrong here, but it might be better to wait until you have the money (at least a couple of grand or so) in your bank account.

you can always make an additional payment without being charged as far as I am aware and in my experience. It's a capital repayment.
not if your in a special deal, i worked in mortgages and know! the amount of people who screamed at me! the comapany i worked for you could pay 10% extra a year but anything over that you got charged. it really does depend if you on a fixed rate or not. I am with Northern rock and you can overpay anytime with no charges but they are one of the very few who do this.

depends on the mortgage company but i know most only take additional payments if you are in arrears. If you are not and want to make just an additional payment then i would find out if you can without incurring fees. Some companies of you make overpayments make charges and this usually cancels out your payment!


My apologies. I read the post above and it seemed you were stating that you couldn't make additional payments and only could if in arrears, which isn't the case.

To be honest, this seems a weird way to make an extra payment on your Mortgage.

The interest rate on your card will be such that it's almost certain to wipe out any savings you'll make on interest on your mortgage?

I may be wrong here, but it might be better to wait until you have the money (at least a couple of grand or so) in your bank account.

But don't you only get charged interest if your payments late ?

I think Joe means a charge from Visa for a withdrawal which is usually around 3.00% of the withdrawal or a minimum charge of £3. I'm not sure how that stands though if you have a credit balance on your visa.

My apologies. I read the post above and it seemed you were stating that you couldn't make additional payments and only could if in arrears, which isn't the case.
oh sorry, i did not write it very well! i meant i did not think many took Visa payments unless in arrears:blush:

It depends on many factors. If it's a credit card, then probably no, because Visa regulations are supposed to prevent credit being used to repay debt, if you see what I mean.

If it's a debit card, then maybe, although the bank will incur fees, so may not take it. In my experience most lenders will only take card payments to cover arrears, not as a general payment.

If it is a debit card, then the money must be in a bank account, so the easiest way to pay is by BACS. Just find your mortgage company's sort code and account number, and ask your bank to make a transfer. You'll need to quote a reference too (usually your mortgage account number). If you call your mortgage company they can tell you. That's better than asking here because each company is different.

you can always make an additional payment without being charged as far as I am aware and in my experience. It's a capital repayment.

it wont be the mortgage company that makes a charge it will be visa that imposes a charge of 2% and if it is a large amount you want to pay off, the mortgage company may not want to pay that deduction.

ie. if you pay say £2000 by this method the mortgage company only recieve approx £1950 they may not want to absorb the cost I bought a land rover from Hallamshire Motor Company a few years ago £24500 and for safetys sake I wanted to pay by visa and they would not accept payment in this form for the same reason they would only get £23900 i had to go to the bank and take them cash

not if your in a special deal, i worked in mortgages and know! the amount of people who screamed at me! the comapany i worked for you could pay 10% extra a year but anything over that you got charged. it really does depend if you on a fixed rate or not. I am with Northern rock and you can overpay anytime with no charges but they are one of the very few who do this.

I am a mortgage advisor for the Halifax.

With them if you're on a rate with redemption penalties you can repay up to 10% of the balance within a 12 month period without any fees charged.
(so if you paid 10% lump sum on 1st may you'd need to wait till 2nd of may the next year to be able to pay again)

You can make overpayments from your visa card I would question your motives for this though - unless you're on an intro 0% rate and you intend to pay off the balance before the deal finishes, I can't understand why anyone would do this?

it wont be the mortgage company that makes a charge it will be visa that imposes a charge of 2% and if it is a large amount you want to pay off, the mortgage company may not want to pay that deduction.

ie. if you pay say £2000 by this method the mortgage company only recieve approx £1950 they may not want to absorb the cost I bought a land rover from Hallamshire Motor Company a few years ago £24500 and for safetys sake I wanted to pay by visa and they would not accept payment in this form for the same reason they would only get £23900 i had to go to the bank and take them cash

of course they won't. It's you that would have to pay the charge isn't it? Now I have no idea about car dealers (corrupt bunch that they are) but when you make a purchase by visa the retailer gets the full amount and you have a charge on your next statement, if it's a straight purchase. If you go to the bank and order £24500 from your visa to collect in cash (????) then I would imagine that YOU still get the charge not the retailer.

I am a mortgage advisor for the Halifax.

With them if you're on a rate with redemption penalties you can repay up to 10% of the balance within a 12 month period without any fees charged.
(so if you paid 10% lump sum on 1st may you'd need to wait till 2nd of may the next year to be able to pay again)

You can make overpayments from your visa card I would question your motives for this though - unless you're on an intro 0% rate and you intend to pay off the balance before the deal finishes, I can't understand why anyone would do this?


Maybe the OP has a credit balance on their visa though (which they wish to transfer to their mortgage) would they still be charged with a credit balance?

I am a mortgage advisor for the Halifax.

With them if you're on a rate with redemption penalties you can repay up to 10% of the balance within a 12 month period without any fees charged.
(so if you paid 10% lump sum on 1st may you'd need to wait till 2nd of may the next year to be able to pay again)

You can make overpayments from your visa card I would question your motives for this though - unless you're on an intro 0% rate and you intend to pay off the balance before the deal finishes, I can't understand why anyone would do this?

You cant make overpayments from a visa/debit card to a halifax mortgage, only accepted if they are in arrears. They will not even accept the card if you have failed on a mortgage payment until the payment is officially in arrears.

of course they won't. It's you that would have to pay the charge isn't it? Now I have no idea about car dealers (corrupt bunch that they are) but when you make a purchase by visa the retailer gets the full amount and you have a charge on your next statement, if it's a straight purchase. If you go to the bank and order £24500 from your visa to collect in cash (????) then I would imagine that YOU still get the charge not the retailer.

no for every transaction done on a visa card is charged to the retailer at between 2%and 3% thats how visa make so much money

no for every transaction done on a visa card is charged to the retailer at between 2%and 3% thats how visa make so much money

here's an example for you never wrong:

http://www.uswitch.com/ConsumerGuide/CreditCards/Abbey-AbbeyBalanceTransferMasterCardVisa-1713,0/CardInfo/CardSummary.aspx?popup=true&InitialOption=0&sessionid=eThPoIGCC46EGK9yR73q6uUePpUUKPri&ref=

I think you may find that the charges there are for the card holder not the retailer. Retailers are charged an interchange fee at around 0.9% (which is under scrutiny by the OFT)

You cant make overpayments from a visa/debit card to a halifax mortgage, only accepted if they are in arrears. They will not even accept the card if you have failed on a mortgage payment until the payment is officially in arrears.


you cant ring halifax for them to take the payment but if you call your card issuer you could make a money transfer either from your bank accout to the mort (by bacs) or transfer the money from visa to an account then transfer to mortgage.

I believe this is the same for most mortgage companies though.

here's an example for you never wrong:

http://www.uswitch.com/ConsumerGuide/CreditCards/Abbey-AbbeyBalanceTransferMasterCardVisa-1713,0/CardInfo/CardSummary.aspx?popup=true&InitialOption=0&sessionid=eThPoIGCC46EGK9yR73q6uUePpUUKPri&ref=

I think you may find that the charges there are for the card holder not the retailer. Retailers are charged an interchange fee at around 0.9% (which is under scrutiny by the OFT)

the interchange fee is over and above the transaction fee.

last year we had a terminal fitted to take cards of every type and over three months approx £150000 went through the terminal after visa had took there share approx £4500 and the setting up of the terminal and having a dedicated line installed approx £500 we recieved approx £145000 the retailers pay for the transactions. in some shops they charge you 3% if you pay by card this does not apply if you pay by debit card though only credit cards

you cant ring halifax for them to take the payment but if you call your card issuer you could make a money transfer either from your bank accout to the mort (by bacs) or transfer the money from visa to an account then transfer to mortgage.

I believe this is the same for most mortgage companies though.

this is true, but then its not making the payment from the visa so the cardholder would have the balance transfer fee to pay.
i am with you on this wondering why anyone would want to make any overpayment from a visa!

this is true, but then its not making the payment from the visa so the cardholder would have the balance transfer fee to pay.
i am with you on this wondering why anyone would want to make any overpayment from a visa!


I know it just doesn't make sense.....:huh:

unless they have to pay their normal mortgage payment by visa as they can't afford to pay it normally by ddr, so instead of falling into arrears they want to add it to a visa at 14%...?

the interchange fee is over and above the transaction fee.

last year we had a terminal fitted to take cards of every type and over three months approx £150000 went through the terminal after visa had took there share approx £4500 and the setting up of the terminal and having a dedicated line installed approx £500 we recieved approx £145000 the retailers pay for the transactions. in some shops they charge you 3% if you pay by card this does not apply if you pay by debit card though only credit cards
some shops charge a set amount for Visa cards, Ikea is 75p i think my local garage is £1.50 this is due to the charges they receive. Debit cards do not incurr a charge. on shopping reciepts it normally has a little comment about agreeing to pay the 2.5% to the visa company although its already included in the total.