Seen the light but need ur help

Hughes3006

Hi have been so inspired by this thread and now me n hubby agree a target of 5 yrs mf which is a tall order but not impossible. We owe 129000 mortgage 20 yearsleft and 6550 on car finance. We can overpay and borrow back with no penalties and have upped monthly payment from 845 to 1000. My question is this we want to move car to cheaper loan deal over five years which would reduce payments so that we can pay at least another 400 pm to mortgage. I know the advice is pay loans etc first but we would only e charged 1600 interest over five years whereas if we didn't overpay mortgage with the extra cash that thos would generate then we would pay a lot more interest on the mortgage long term. Hope that makes sense! Also anyone use stoozing on cc to pay mortgage we have 2 o% cards at mo not in use. Thanks sarah

CathT

perhaps you could stooze your car loan instead? What interest rates are you paying on loan and mortgage?

Have a look at the calculators to see how much you need to overpay to realise 5 year dream aswell.

Good luck with it Sarah.