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Overpaying a mortgage?
Lloyd74
Posts: 29 Forumite
Hi everyone, my father recently passed away and has left my mother with a mortgage to pay.
Basically my dad took out a fixed rate for the next 3 years and 9 months and I was wondering if we can overpay on a fixed rate?
I don't know much about mortgages but it is part interest, part repayment.
My simple question is can we pay above the fixed rate or do we have to wait until the fixed rate expires?
Many thanks.
Basically my dad took out a fixed rate for the next 3 years and 9 months and I was wondering if we can overpay on a fixed rate?
I don't know much about mortgages but it is part interest, part repayment.
My simple question is can we pay above the fixed rate or do we have to wait until the fixed rate expires?
Many thanks.
0
Comments
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it depends on the particular product she is on, check out the mortgage offer and it will tell you towards the end if you can overpay and by how much. Ring the lender for clarification too.Happily an ex mortgage broker!0
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