Shrinking my mortgage term

wackybackyjacky_2

I have a lifetime tracker mortgage currently at 1.85% above BOE rate with 18 years to serve, I can afford to overpay by £100 per month or even a little more.
My question is, what is the most effective way to shrink the term of my mortgage, given the current rate should I overpay or invest and pay off a lump sum in the future.

hcb42

might depend on yuor interest rate on savings.

personally for £100 a month I would overpay

amblondon

Depends on how much more interest (net of tax) you can get on the savings than 2.35% (at current 0.5% base rate). The difference will only be a few £s a year tops on £100 a month.

Radiantsoul

I think psychologically an overpayment is locked away, whereas savings are easier to dip into. The financial difference is not likely to massive so it is probably more a matter of what you want and how much you trust your future self.