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boro_boy

Overpaying Mortgage, Save thoushands

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Admin

I just looked at the calculator on Money Saving Expert website and if I pay and extra £300 per month off my mortgage (thats under the limit of £5000 I can overpay each year so won't get fined). I will be able to pay my mortgage off over 11 years early.

http://www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator#result

Overpaying would save you

£26,287 in interest alone,

and mean you pay it off in full

11 years and 4 months earlier

I have the spare money now so may as well put it to use!

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