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Overpaying 20% on mortgage for 4 years...

(5 Posts)
mrsreynolds Wed 14-Feb-18 11:25:28

...how can I find out how much it would save on interest and term length?

nobutreally Wed 14-Feb-18 11:26:53

www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator

ChessieFL Wed 14-Feb-18 12:44:35

Check you’re allowed to overpay that much - many mortgages have a limit on the amount you can overpay before there’s a penalty so you will need to factor that in.

mrsreynolds Wed 14-Feb-18 12:52:26

Can overpay 20% on ours

riledandharrassed Wed 14-Feb-18 12:58:34

Many won't let you go up to 20% , also look if this would impact early repayment charges - some are sneaky!

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