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Best way of paying off 'Interest Only' Morgage
Edinburgh64
Posts: 8 Forumite
I have an Interest Only Morgage through Nationwide which currently stands at approximately £20000 to re pay. The remaining morgage term is until October 2020. I am currently paying the Base Morgage Rate , approximately £43 per month plus £500 overpayment most months. Is this the best way to repay this morgage or does anyone have a better suggestion ?
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Comments
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It's how I'd do it, making sure you repay any higher rated credit commitments first.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Thanks Kingstreet
You have certainly helped me out.0
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