Lower mortgage to get a new one home

star02 Posts: 111 Forumite

7 December 2015 at 2:19PM in Mortgage-free wannabe

Hi All

I thought I would join this forum as I am aiming to overpay my mortgage from Jan. My provider allows 10% of the start balance each calendar year and a min of £500 per overpayment.

So my aim is to do £500pm if I can as would rather pay straight to mortgage company rather than save as might be more tempted to spend it!

My overall target is to overpay as much as possible over next two years before fixed rate is up (Jan 18 part and Mar 18 pot 2) so I can then look to move to a new home (as higher equity) or enjoy my new lower payments and continue overpaying.

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Lower mortgage to get a new one home

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