Should I overpay now or wait until my fix is over?

JimmyTheWig

Yorkie1 wrote: »

The usual advice on here is to ensure you have up to 6 months' worth of outgoings for a rainy day fund. Make sure you have pension provision.

While I agree that this is generally good advice, in the OPs case where (a) he is paying a high rate on his mortgage and (b) appears to be able to get his hands on his overpayments if necessary I would err on the side of overpaying the mortgage with only, say, 2 months expenses in savings. But that's only my take on it.

csq

OK, so if I owe less now, less interest will be taken, so in the long run I will save money on interest. It all makes sense now, thank you!

JimmyTheWig wrote: »

While I agree that this is generally good advice, in the OPs case where (a) he is paying a high rate on his mortgage and (b) appears to be able to get his hands on his overpayments if necessary I would err on the side of overpaying the mortgage with only, say, 2 months expenses in savings. But that's only my take on it.

That's what I'm going to do. Cheers!