Should I pay mortgage off early with loan form parent ?

ChimaeraMoon

Hi Money Saving Experts
I was late getting on the housing market so have 8 years 2 months to pay off on my mortgage - its just over £20K atm. I have 3 years left on my current mortgage deal and pay 2.29% part capital/part interest (high rate as it's a shared ownership property). I'm on a low income and my monthly payments are around £237 and a £100 over-payment to reduce the term (so hopefully it would tally up with my state retirement age in 2026!!). My mum, not rich bless her, has a bond coming out soon 'which would cover this and shes suggested I use it to pay off the redemption figure to my lender (I've requested a statement) but then 'borrow' that amount from her and pay her back monthly plus, say, 1.4% interest, so she'd get more interest than she can elsewhere and I'd be paying less (canny woman!)
My questions are:
1. Would it be better to wait until the 3 years are up on my current deal and pay it off then and presumably not incur a penalty charge? 
2. How on earth would I work out the monthly payments I would need to pay her as the amount I owed her reduced?!
TIA

dimbo61

How much is the ERC
Your paying down the mortgage and overpaying as well.
Brilliant 😁
Use " whatsthecost " to work how much you would need to pay each month with say a 6 year term, 1.4% interest rate and the outstanding balance plus ERC charges.
You may also have a small exit fee