Mortgage Tipping Point

Vintagebrit

Hi, I'm into the 18th year of a 27 year tracker repayment mortgage. 
The Monthly Mortgage is £464 but the capital reduction each month is about £190.
I would have thought by now we would be paying more capital than interest.
What are your thoughts?

tacpot12

It will depend on the interest rates you have been charged. A higher rate in the early years will delay the point at which the capital element exceeds the interest element. 

You could ask your mortgage lender to confirm that you are on track to pay off your mortgage in the 27th year.

You might also consider whether you can now afford to overpay your mortgage. Even a small overpayment will be helpful in reducing your mortgage term. 

grumpy_codger

What does it track and how?
My thought is that something is not right here.
Even with 7% fixed rate for 27 years the tipping point is about 18 years, but you are still far away from it. The lower the rate, the sooner the tipping point.
https://www.mortgagecalculator.uk

What are your current interest rate and the balance?

penners324

Remortgage maybe?