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Lump sum on current mortgage deal or new one
vw100
Posts: 306 Forumite
Hi
I am on a 3.30% fixed deal ending in jan 2017. The lender does a 2.79% 2 year fixed which I am interested in. Would it be wise to make a lump some overpayment now, or when on the 2.79% deal in the new year.
I am on a 3.30% fixed deal ending in jan 2017. The lender does a 2.79% 2 year fixed which I am interested in. Would it be wise to make a lump some overpayment now, or when on the 2.79% deal in the new year.
0
Comments
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Assuming no early repayment charges the sooner you make the overpayment the sooner you stop paying interest on it. But you have to weigh that up against the interest earning on the money.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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