overpayment OR change repayment ratio?

mrsJef

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!

mrsJef

Any ideas?!

Peelerfart

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 ?

redpete

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.