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Accelerate My Mortgage - Does it work

Hi, just heard about this - essentially it’s a cashback site but the money is paid directly to your mortgage, thus reducing the interest. about 45 retailers signed up including boots and John Lewis. I would love to give this a go but hoping to hear feedback from this great community first to make sure it’s all on the up and up. I already overpay my mortgage, have just under 10 years left but would love to pay it off sooner. Every little helps
Starting Total in September 2019 = £38287.77
Current Total = £25534.10
33% of debt paid off so far

Debt Free by Christmas September August July June 2023!

Replies

  • edinburgheredinburgher Forumite
    13K Posts
    Part of the Furniture 10,000 Posts Name Dropper
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    I'm not sure I get it, why not just use a conventional cashback site that will allow far more flexibility over paying out?
  • A_Frayed_KnotA_Frayed_Knot Forumite
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    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
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    What site is it and how much cashback do you get ?  Seems strange to me, but then sometimes I am amazed at what's on offer.
    Is it worthwhile and is it a safe/trustworthy site?
    Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:
    MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_
    Now a Part Timer from 27.10.19
  • A_Frayed_KnotA_Frayed_Knot Forumite
    3.2K Posts
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
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    Ahh, just googled it, so totally agree - as edinburgher says - 
    why not just use a conventional cashback site that will allow far more flexibility over paying out?
    Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:
    MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_
    Now a Part Timer from 27.10.19
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