Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • alex_163163
    • By alex_163163 4th Oct 17, 11:02 AM
    • 230Posts
    • 155Thanks
    Pay down which mortgage account?
    • #1
    • 4th Oct 17, 11:02 AM
    Pay down which mortgage account? 4th Oct 17 at 11:02 AM
    I bought a new house earlier this year, and sold my previous flat.
    Due to the Erc on the mortgage on the flat, I ported that mortgage (£47k) and took out a second product (no fix or erc) for the remainder needed (£137k).
    Now my fixed period on the £47k mortgage has come to an end, we have switched BOTH mortgage products to 1.99% fixed for 3 years.
    I want to overpay on the mortgage (at the moment can only afford an extra £90 per month but I figure it will all add to the capital repayment), and trying to figure out which account it will be most benifical to overpay on? Or does it not really matter as the interest is the same on both accounts?
    Option 1: over pay £90 per month on the £47k at 1.99%
    Option 2: over pay £90 / month on the £137k at 1.99%
    Option 3: overpay £45 / month on both

    Any advice?
Page 1
    • zx81
    • By zx81 4th Oct 17, 11:17 AM
    • 16,024 Posts
    • 17,008 Thanks
    • #2
    • 4th Oct 17, 11:17 AM
    • #2
    • 4th Oct 17, 11:17 AM
    There's no difference.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

122Posts Today

1,829Users online

Martin's Twitter