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Overpayments.....or increase repayments??
baldchef
Posts: 13 Forumite
Hi, just abit of advice really, looking to pay off mortgage asap, would I be better making an overpayment each month? or building in the amount I was going to pay extra each month, into my monthly installments.
I have a repayment mortgage, if I make overpayments does this come directly off the amount borrowed?
And if I increase the amount of the installments does this pay off the amount borrowed plus the interest.
Many thanks Baldy.
I have a repayment mortgage, if I make overpayments does this come directly off the amount borrowed?
And if I increase the amount of the installments does this pay off the amount borrowed plus the interest.
Many thanks Baldy.
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