Overpayment or Remortgage?

NatAes

My mortgage moves to a variable tracker rate in March 2016, at which time a prepayment penalty also expires. My intention was to remortgage at that time, with a slightly smaller mortgage (ie I'd use my savings to in essence pay off part of the mortgage and thus apply for a smaller amount than my current mortgage). However I have now found out that my mortgage provider allows 10% overpayment without penalty.

Is it best to overpay now, and then remortgage for the same amount as my current mortgage, or is it better to pay this off slightly at the later remortgage date and apply for a smaller amount (as was my initial plan)?

getmore4less

Sooner you pay the sooner that bit stops attracting interest.
(in most cases)

if the mortgage rate is more than the net savings then overpay.