Save the difference, or overpay?

manikm

if the interest rates come down over the next year or so and therefore make my re-payments each month less - should I save the difference on my existing payments into a savings account? or should i overpay the mortgage by what im paying now (ie continue paying as if the rate was higher)

how do i make overpayments?

there are NO penalties with overpayments before you ask, as ive checked.

cheers guys!

Rikki

Have you checked on how to make these overpayments? Some you can increase your DD others accept counter payments.

Mine can only be made in the post by cheque due to the type of mortgage I have.