Overpaying on my mortgage

gayle.b

I am making overpayments on my mortgage and just wondered if anyone can give advice on which would be the best to overpay on. I have 3 parts to my mortgage, 2 on a higher fixed rate, 1 small amount 1 larger and 1 which is on the variable rate which is a medium amount. My mortgage is with Nationwide. Any idea which would be more beneficial for me to overpay on?

Thanks;)

originalmiscellany

Welcome to this forum, it's full of friendly advice!

Facts and figures will make it easier to give more precise help!

a) What's the total mortgage currently still oweing?
b) What are the different parts?
c) What are the different amounts to the different parts?
d) What's the length on the mortgages?
e) Do you have any other outstanding debt, e.g. a credit card at a much higher interest rate?

My first answer would be to pay the one which currently has the highest interest rate, but I'm sure that any facts and figures will be gratefully received

Cheers

citizen11

gayle.b wrote: »

I am making overpayments on my mortgage and just wondered if anyone can give advice on which would be the best to overpay on. I have 3 parts to my mortgage, 2 on a higher fixed rate, 1 small amount 1 larger and 1 which is on the variable rate which is a medium amount. My mortgage is with Nationwide. Any idea which would be more beneficial for me to overpay on?

Thanks;)

If you can choose the part you overpay, overpay the part on which you will be charged the most interest.