Is now the time to leave paymenst as they are ahead of rate change

Dandytf

Ive always left mtg overpayments set to reduce mtg term

Is now the time to switch options and change overpayment reserve to auto change mtg payments when theres change of boe interest rates

thanks in advance

snickpan

Not sure what you mean...
Maybe wait till the rate does actually change, see how you feel then.
There's different ways of looking at money when rates are low, or high. It makes sense to over pay when rates are low, as you have the spare money from cheap repayments. It's also nice to borrow loads and spend loads whilst borrowing is cheap!

Dandytf

Thanks

I was referring to Natwide overpayment reserve options think theres 2 or 3 choices

any overpayments are held in reserve and ive chosen to use existing reserve amount to reduce mtg term

There is an option for natwide to auto increase my standard mtg payment if and when rates rise

Though I could cope with making a manual adjustment nearer the time as you suggest

trying to think ahead and prepare for the invetable rate rises