Should I change the mortgage

thomas502

Hi all, 

In my effort to pay my mortgage off early…. I currently have a Nationwide mortgage on a BMR rate of 2.1% with 15 years term. 

I plan to be making overpayments every month which shortens the term to around 4 years. 

Would it be a good idea to change the mortgage to a fixed deal and also shorten the term to like 1.44% over 6-8 years? and then make overpayments when I can?

the amount is around £64k

Steve123456789

There are so many variables and we don't know your situation so it's impossible to say.  You need to make a spreadsheet of your different options.

LadyGnome

You need to factor any annual overpayment limits into your calculations.  You may be limited to 10% of the original balance per year if you fix.