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What to overpay?
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Lisa1978
Posts: 317 Forumite
Morning,
I have a buy to let mortgage made up of the below :
£72,356 - Interest Only
£19,180 - Repayment
Term left, 15 years at 3.99%.
I am now in a position to start overpaying. Possibly £200-300 a month. Which section do I overpay? The Repayment first and then the IO?
Thank you!
I have a buy to let mortgage made up of the below :
£72,356 - Interest Only
£19,180 - Repayment
Term left, 15 years at 3.99%.
I am now in a position to start overpaying. Possibly £200-300 a month. Which section do I overpay? The Repayment first and then the IO?
Thank you!
0
Comments
-
Makes no difference to the cost.
Some prefer the I/O as the repayment bit takes care of itself.
Others prefer the repayment first as it give more flexibility as the contractual payment goes down quicker.0 -
Ok thanks for your response
0
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