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Article on AOL says pay it off rather than save
Catslovelycats
Posts: 1,749 Forumite
It's a bit early for me to get my head around it, but it seems to be suggesting that it's better to overpay mortgage than save the OPs, regardless of the interest rates.
Am I right?
Is the article right?
Here's the link: http://money.aol.co.uk/2011/11/25/it-pays-to-overpay-your-mortgage/?icid=maing-grid7%7Cuk%7Cdl4%7Csec1_lnk2%7C86561
I'd be interested to know what you all think!
I've read it a bit more carefully and still confused. But surely if savings rates are higher it makes sense to save the OPS until mortgage rates equal/exceed savings? That's what we're always posting here. Am I being thick? Or is AOL being a bit thick/unclear? The concept of OPing mortgages surely isn't a new concept in the World Beyond MSE - is it??
Am I right?
Is the article right?
Here's the link: http://money.aol.co.uk/2011/11/25/it-pays-to-overpay-your-mortgage/?icid=maing-grid7%7Cuk%7Cdl4%7Csec1_lnk2%7C86561
I'd be interested to know what you all think!
I've read it a bit more carefully and still confused. But surely if savings rates are higher it makes sense to save the OPS until mortgage rates equal/exceed savings? That's what we're always posting here. Am I being thick? Or is AOL being a bit thick/unclear? The concept of OPing mortgages surely isn't a new concept in the World Beyond MSE - is it??
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