Mortgage Overpayments

lenin

Hi I need some advice regarding mortgage over payments.

I have been making mortgage over payments for over 3 years on my mortgage. I wanted to understand why my monthly mortgage drops by the same amount every month (about £3.50)

I would have thought that as time went by the amount that came off my monthly bill would increase i.e. month 1 would be £3:50, month 2 £3:80, month 3 £4, etc etc

Can someone explain why the amount stays the same?

Thanks

dimbo61

We have know idea how much you overpay each month or the amount of mortgage and term ( number of years left).
The number of days in the month will mean you pay more interest some months than others.
Keep up the good work we only have the one Very large debt and overpay the mortgage each month.
I like to see the balance come down