Does an over payment benefit me?

djdaface

Hello,
Agreements with my current lender to borrow more have broken down and I may need to look at other lenders
I have the cash to make a 10% over payment now, does it make sense to do that, will I then pay 10% less early repayment charge if I was to move lenders in 2 months time?

Sky_

It depends on the terms and conditions of your mortgage.  When I remortgaged before the end of my last deal, to secure a lower fixed rate due to having a much-reduced LTV, I only paid early repayment charge on 90% of the outstanding mortgage--the other 10% was the overpayment allowance.  

Have you looked at secured loans for the additional amount, rather than moving the whole mortgage?