Does remortgaging affect monthly payments?

dmhouse256

What happens when you remortgage -- does your monthly payment get recalculated such that you'll still pay off over the same term, or do you still pay the same amount each month, but end up paying off more quickly?

glentoran99

When you say remortgage what exactly are you doing? Getting a new deal but not borrowing any more, If so then your monthly payments will change in line with the new deal and youll pay over the same term

dmhouse256

Whoops. I must have been half asleep when writing this thread. I meant: what happens when you *overpay*, not when you remortgage.

I'll start another thread with a less confusing title. Thanks!