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which mortgage to overpay ??
yascrack
Posts: 8 Forumite
Hi. Please can you help solve a disagreement with my husband.
We have 2 mortgages both at the same interest rate. One is for about 70k and the other for about 10k.
If we were to overpay £100 per month does it matter which one we pay the overpayment to
He thinks we should pay off the higher loan but I think it doesnt matter as they are both at the same int rate.
Who is right?
Please help
Thank you
We have 2 mortgages both at the same interest rate. One is for about 70k and the other for about 10k.
If we were to overpay £100 per month does it matter which one we pay the overpayment to
He thinks we should pay off the higher loan but I think it doesnt matter as they are both at the same int rate.
Who is right?
Please help
Thank you
0
Comments
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I would opt for the smaller balance to overpay. As you may wish to lock the larger balance onto a fixed rate product.0
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