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overpayment OR change repayment ratio?
mrsJef
Posts: 114 Forumite
Hi guys,
About to come to end of fixed rate have been offered 2 or 5 year fixed with RBS (current lender) We have a part repayment/part interest only.
Now if we go for 2 year deal we could afford another £100p/m so do i get them to change the ratio of repayment or leave it as it is & overpay by £100p/m?
Does it make any differnce?
Thanks!
About to come to end of fixed rate have been offered 2 or 5 year fixed with RBS (current lender) We have a part repayment/part interest only.
Now if we go for 2 year deal we could afford another £100p/m so do i get them to change the ratio of repayment or leave it as it is & overpay by £100p/m?
Does it make any differnce?
Thanks!
0
Comments
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Any ideas?!0
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Do you have to fix?
We haven't really got much information here, like, how much is your mortgage(split by I/O and repayment).
what percentage is your LTV and how open/exposed to risk are you ?Space available for rent0 -
You already pay all the interest that is due each month, any overpayment therefore reduces the capital so I don't understand what it means to change the ratio when you are already overpaying.loose does not rhyme with choose but lose does and is the word you meant to write.0
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