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Need some help please on overpaying

mylifemyrules · 2025-02-20 11:04:30

Hi, I want to start overpaying my mortgage I owe 129000 with 31 years to go and have a fix rate for 5 years with Halifax. If I overpay monthly but keep the term the same will it effect me switching to a new deal in future with Halifax? What usually happens please. Thank you

Comments

Hoenir Posts: 7,742 Forumite

22 February at 7:05PM

Good idea to maintain flexibility and have emergency savings. Borrowing short term on credit cards soon erases any gains from overpaying the mortgage.

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