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Overpay?

Hi all

We want to start overpaying on our mortgage (currently C£85k) for two reasons
  • want to be mortgage free and feel like Im doing something for my future
  • want to prove to the mortgage company that we can easily afford upwards of £650 per month to go in our favour when we ask them to loan us more in about 6 months time
Thing is, if we're overpaying ie saving us money and taking it away from the bank, will they see us as 'unfavourable' and refuse to loan us the extra £60k we need to move house?

just want to be sure we're doing the right thing

Ta
Mummy to two girls, 4 & 1, been at home for four years, struggling to contend with the terrifying thought of returning to work.

Comments

  • evab_2
    evab_2 Posts: 2,336 Forumite
    Wouldn't it be better to save the money as a deposit on the next house as it's probably not certain that you would get a more funds so at least it would be available??
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