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Overpaying Mortgage
Becks2013
Posts: 1 Newbie
Any advice would be much appreciated
I have some money left over and wish to pay off some of my part and part mortgage.
What i need to know. Is it better to pay some off the repayment part or pay some off the endowment part of the mortgage or some of both?
Thank you
I have some money left over and wish to pay off some of my part and part mortgage.
What i need to know. Is it better to pay some off the repayment part or pay some off the endowment part of the mortgage or some of both?
Thank you
0
Comments
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Do you mean it's part on repayment and part on interest only?
If so, what other plans do you have to repay the interest only section? Personally I'd want to get peace of mind about that if there was any risk I might not be able to pay it off at the end of the mortgage.
However, if interest rates on the repayment part are far higher then perhaps consider paying that one off in preference.0
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