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Overpay or wait for fixed term end?

mkviken · 2012-05-30 20:18:31

Hi our repayment mortgage 5.6% fixed rate is due to end in Jan 2013. We have been overpaying around £2000 a year on our mortgage and looking at the statements it hasn't made a lot of difference to the balance. we want to over pay £500/month for the foreseeable future but are uncertain on the best way to go. with the rate…

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mysk_girl Posts: 804 Forumite

31 May 2012 at 12:46PM

Perfect :-) it's always nice getting your mortgage statement in January with a whopping great number under the "overpayment reserve" section! Mine is not as healthy as it was, but we paid for our new roof and loft conversion with cash saved in the mortgage, which is a really good feeling :-)

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Overpay or wait for fixed term end?

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