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Paying extra into mortgage
Sandford1
Posts: 3 Newbie
Left with a big mortgage post divorce ( 400k+)and wondering if it worth paying some extra off each month while in a 5 year fixed term. Thanks
0
Comments
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It depends on your other options for that money and your plans. Overpayments reduce your capital which in turn reduces the interest you pay, but it's not the only thing you do with your money to increase your wealth.0
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Is your ex off the mortgage?Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓0
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