Overpayment timing

maffyew86

I have a chunk of money I could use to overpay in our mortgage with Leeds BS. Our mortgage anniversary is March by which point there will be 3 years left of our 5 year fix at 1.84%. Currently I'm saving money in a stocks and shares ISA in which I have up to now been saving far more than the average fixed saving account. So although right now it is better to save than make an overpayment, I'm trying to figure out if, and when is the right time to overpay. I don't want to be faced with much bigger monthly payments when our fixed term ends, at which point I may not be able to put away money anyway. Thoughts?

pramsay13

Keep saving although bear in mind money in a stocks and shares ISA can go down as well as up so consider switching to a fixed account that is still higher than the mortgage interest.
The time to overpay would be when you remortgage after the three years. 

Brie

I'd be putting it in a higher rate savings account of some sort.  That way when you come to remortgage you'll know exactly what you have to pay off a chunk of the mortgage.