Advice please?

Geoffjb1972

Hi,

I have roughly £42000 remaining on my mortgage, currently I am on Alliance And Leicester's tracker which is 0.12% below the BAE base rate. My repayments at the minute are £268 per month. This rate ends in May when I will revert to a tracker which is 0.99% above the BAE base rate.

I currently have 13 years remaining on my mortgage. Was just wondering how long I will knock off this as I have just organised overpayments of £50 per month?

Geoff.

Robert_Sterling_3

If you are with the Nationwide they will tell you if you ask.
I guess other lenders will too.

Gorgeous_George

At 0.38% for 13 years with monthly repayments of £268, I calculate that your outstanding mortgage is £40,786.

Increase your payment to £318 and I make it that you will knock off 2 years and 1 month.

GG

Geoffjb1972

Thanks George, was looking to knock 3 years off, so will go for a bit more.

Geoff.