Pay now or during remortgage

And_

Hi all

I have a sum that I would like to pay off my mortgage. The current mortgage company have said I can pay up to £50k now without penalty.

My question is, would there be any benefit to paying the sum of money off the mortgage when i remortgage in a couple of months time, as opposed to paying it now?

Thanks

Andy

edinburgher

No, unless you think there's a chance that you will need the money before then.

With any debt, earlier is better and the fact that you are making such a large payment may mean that you fall into a lower LTV bracket and be eligible for better rates.

If this turns out to be true, you're slightly better off making an overpayment at the higher interest rate.