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Is it worth paying a little bit more on my mortgage?
wbh1138
Posts: 11 Forumite
Hi
as I have a tracker mortgage, the monthly payments have come down about £75 over the last 6 months.
My question is, is it worth paying the amount I was paying, to nibble away at my mortgage (mortgage is only around £35000 with just over 10 years to go) or will it make so little difference that I may as well spend it and enjoy it now.
I look forward to any advice.
Cheers
Wayne
as I have a tracker mortgage, the monthly payments have come down about £75 over the last 6 months.
My question is, is it worth paying the amount I was paying, to nibble away at my mortgage (mortgage is only around £35000 with just over 10 years to go) or will it make so little difference that I may as well spend it and enjoy it now.
I look forward to any advice.
Cheers
Wayne
0
Comments
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It is in your interest to overpay the mortgage if you are allowed to. This would come in handy if interest rates go up in due course.
However the interest rates are low and it is hoped that many people will take the opportunity to spend the extra money ans so boost the economy.
So if you do what is best for yourself you will not be doing what is best for me.
So spend spen spend if you feel like it. :T :T :T...............................I have put my clock back....... Kcolc ym0 -
There are 10 types of people in this world. Those who understand binary and those that don't.0
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