Mortgage free by 2028

sakura2023

Returned a pack of laminate and underlay but then used that money to put towards the paint.

Payday today- paid £700 off the mortgage.

Total paid £1060.37/£7600 

Mortgage currently £74,300.

Repayment cap changes 31/08. I have ten more paydays till then, which should be £653.96 each month.

This might sound like a stupid question but when we overpay does it alter our mortgage dd amount each year?

Work is very quiet, always is at this time of the year. We have half term next week and I've already started thinking about Christmas! 

South_coast

sakura2023 said:

This might sound like a stupid question but when we overpay does it alter our mortgage dd amount each year?

It shouldn't do if you are in a fixed rate period, they will just recalculate your payments at the end of the fix to make it the right amount for the term remaining (ie if you have reduced the balance owing by making OP's they will reduce your payments)

sakura2023

Thanks that's good to hear.

Mortgage went out today and paid a little extra to make it an even figure.

Mortgage currently £74,000.

Total overpayment so far £1076.20/£7600.