We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
capital or interest ? mortgage
Options
james_murphy_2
Posts: 33 Forumite
i am thinking of paying extra every month what will the extra cash be deducted from capital ,interest or both thanks for any help
maxdog
0
Comments
-
We have a repayment mortgage, interest calculated daily and our overpayments go straight off the capital. I guess this would be the same with all but worth checking with your lender. Also, worth double checking if you can overpay without penalty as many don't let you do this - or like ours, have a monthly limit.0
-
It must come off the capital as your "normal" repayment is already covering the interest so there is nothing else they could apply it to?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards