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Barclays overpayment options
Saint84
Posts: 103 Forumite
Can someone help me work out which option saves more interest out of these two? I assume it’s the reduce term option (pay less than 3 times usual payment?
https://www.barclays.co.uk/mortgages/existing-customer-centre/overpayment-underpayment-explained/
https://www.barclays.co.uk/mortgages/existing-customer-centre/overpayment-underpayment-explained/
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Comments
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Reducing the term will save you more. If you only reduce your monthly payment, you don’t really save anything because you end up paying the same amount a month really.There will be a calculator online somewhere, and I’m sure someone will have one handy so you can see the difference0
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