Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • alex_163163
    • By alex_163163 4th Oct 17, 11:02 AM
    • 231Posts
    • 157Thanks
    Pay down which mortgage account?
    • #1
    • 4th Oct 17, 11:02 AM
    Pay down which mortgage account? 4th Oct 17 at 11:02 AM
    I bought a new house earlier this year, and sold my previous flat.
    Due to the Erc on the mortgage on the flat, I ported that mortgage (47k) and took out a second product (no fix or erc) for the remainder needed (137k).
    Now my fixed period on the 47k mortgage has come to an end, we have switched BOTH mortgage products to 1.99% fixed for 3 years.
    I want to overpay on the mortgage (at the moment can only afford an extra 90 per month but I figure it will all add to the capital repayment), and trying to figure out which account it will be most benifical to overpay on? Or does it not really matter as the interest is the same on both accounts?
    Option 1: over pay 90 per month on the 47k at 1.99%
    Option 2: over pay 90 / month on the 137k at 1.99%
    Option 3: overpay 45 / month on both

    Any advice?
Page 1
    • zx81
    • By zx81 4th Oct 17, 11:17 AM
    • 17,680 Posts
    • 18,816 Thanks
    • #2
    • 4th Oct 17, 11:17 AM
    • #2
    • 4th Oct 17, 11:17 AM
    There's no difference.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

851Posts Today

7,747Users online

Martin's Twitter
  • Donald Trump has apologised and admits he said would when he meant "wouldn't" when siding with Putin over US inte?

  • About to watch #AckleyBridge on C4+1. I do enjoy it, even though I always feel somewhat stressed and depressed after watching.

  • RT @stevenowottny: 19/30 UK airports now charge you for spending 10 mins dropping someone off at the terminal - good investigation from @je?

  • Follow Martin