Mortgage overpayment

barathjag

If I overpay my fixed duration deal mortgage with Halifax without changing the monthly mortgage amount or the term , does it save me money by decreasing the proportion of interest in my monthly payment? or I save money only by asking them to decrease the term of tge mortgage

Hoenir

Yes. As each subsequent monthly payment will reduce the capital further thanks to the benefit of a lower interest charge. Might seem small initially as time passes will grow. Think of it as rolling a snow ball.