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2 mortgages
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me1234
Posts: 35 Forumite
Mortgage 1 - £35k outstanding, 2.52% till July 2026, 15 years left on mortgage. Natwest.
Mortgage 2 - £159k outstanding, 4.29% till 30 April 2026, 19 years left on mortgage. HSBC.
Both mortgages are below 60% LTV.
I can afford around £800 pet month to overpay.
How would you prioritise overpayments?
Mortgage 2 - £159k outstanding, 4.29% till 30 April 2026, 19 years left on mortgage. HSBC.
Both mortgages are below 60% LTV.
I can afford around £800 pet month to overpay.
How would you prioritise overpayments?
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Comments
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Financially it makes more sense to overpay mortgage 2 although psychologically it might be good to overpay mortgage 1 and pay it off sooner and then start on mortgage 2.2
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Agree with this.pramsay13 said:Financially it makes more sense to overpay mortgage 2 although psychologically it might be good to overpay mortgage 1 and pay it off sooner and then start on mortgage 2.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
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***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0
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