Mortgage question/help

bmthmark

Just after your expert advice/opinion.

I have £175,000 left on my mortgage (property worth approx. £400k). I am in a fixed rate (1.94%) until end of August.
I am with HSBC and can switch deal end of May.
I currently have 18 years left of my mortgage, but I really want to reduce the years.

I'm paying approx. £1000 a month in mortgage payments.

Just need some advice really on whether the following sounds like a good idea?

I was going to switch to a HSBC 1.34% fixed rate for 5 years. This will bring down monthly payments to approx. £910, I was then going to ask if I can reduce the term to 16 years which will increase payments to £1015 (approx.). 

I have also been making £400 overpayment every month and I will continue this. Which will hopefully bring it down to 11 years.

The other option is to simply pay £1400 a month in a fixed rate (1.34%). But I won't be making any overpayments with this route. I'm a bit apprehensive about this just in case my circumstances change, it just gives me that added pressure. At the moment I know I can stop the £400 a month if needed.

I can overpay 10% without any charges.

Many thanks all