We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Paying a lump off a mortgage

trudij

trudij Posts: 1,905 Forumite

Part of the Furniture

Combo Breaker

22 November 2009 at 7:20PM in Mortgages & endowments

Hi - we have an interest only mortgage - and we want to pay a couple of thousand off it - is there a best time to do this? if so, when??

thankyou !!

Do not meddle in the affairs of dragons, for you are crunchy and taste good with ketchup

0

Comments

blueberrypie Posts: 2,400 Forumite

22 November 2009 at 9:49PM

Assuming your interest is calculated daily, the sooner you make the extra payment, the greater the benefit.

0

This discussion has been closed.

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

Categories

All Categories
351.7K Banking & Borrowing
253.4K Reduce Debt & Boost Income
454K Spending & Discounts
244.7K Work, Benefits & Business
600K Mortgages, Homes & Bills
177.3K Life & Family
258.3K Travel & Transport
1.5M Hobbies & Leisure
16.2K Discuss & Feedback
37.6K Read-Only Boards