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Mortgage Overpayment Help
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sunnyweather_2
Posts: 3 Newbie
I have a mortgage with Nationwide on a 10 year fixed with 31 months remaining set at 4.89%.
It will cost me £1500 to ditch the fixed rated.
I am aloud to pay £500 overpayment per month which I do.
I also put £1500 into premium bonds per month too because of the £500 overpayment limit.
I have £100,000 left to pay.
I have done the ditch the fix calulator and it advises me to change. however my question is.....
How much would I save if I ditch the fix to 2.59% where I can pay the full £2000 in overpayment straight of the mortgage compared to what I am doing at the moment?
Thanks for your help in advance!!!
It will cost me £1500 to ditch the fixed rated.
I am aloud to pay £500 overpayment per month which I do.
I also put £1500 into premium bonds per month too because of the £500 overpayment limit.
I have £100,000 left to pay.
I have done the ditch the fix calulator and it advises me to change. however my question is.....
How much would I save if I ditch the fix to 2.59% where I can pay the full £2000 in overpayment straight of the mortgage compared to what I am doing at the moment?
Thanks for your help in advance!!!
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