Mortgages

taxing21

Be gentle its my first post, 
Got our main mortgage with the building society but over the years have added on 3 other smaller ones for extensions, window replacements etc, recieved our yearly statement and a bit shocked at how much interest we are being charged,
Owe £16700.....int..£41.41
Owe £6395....int  ..£15.86
Owe £4008...int..£9.94
Owe £1316..int..£3.29
Yes i admit there are a lot of owes,
These are all on a capital repayment, is there anyway we can lower the interest,  would adding them altogether and moving to a different mortgage provider be cheaper, sorry if gave too much info or not enough but were not much good where mortgages etc are concerned.  Many thanks.

amnblog

You owe £28,419 and are being charged £70.50 interest.
That is 2.5%
Have we missed something?

Whats_your_forte

At 2.5%, very little is interest and main part of your payment is capital. Possible not worth the hassle/work for a remortgage on those figures when you add in other costs. 2.5% with unlimited overpayments is not bad

clairebeth

Can't you just overpay to reduce the capital and therefore reduce amount of interest? Your interest rate is fairly low anyway, you might be able to do better,  it depends if a lender would lend you that amount on a lower rate,  no harm in trying.