To ask how much (or if) you overpay on your mortgage

[WhenSheWasBadSheWasHorrid]

Pure noseyness on my part. But I was just wondering how much people overpay their mortgage.

We are really keen to pay ours off as soon as possible. Bought the house 5 years ago and the amount we pay in interest on the mortgage makes me want to weep.

At the moment we are overpaying by £550 a month. Lucky to be able to afford.

As well as Santander, Lloyds and TSB, there's Tesco, Bank of Scotland and others that pay at least 3%. Look on Moneysavingexpert for full details. Tesco doesn't even need anything paying in, but the others do.

If you use Santander as your main current account, you get cashback on bills that offsets some or all of the fees, possibly more. Our bills are quite low and we usually get at least £3.50 a month in cashback.

We overpay £400 a month and should have shut of the mortgage in about two years. New kitchen, bathrooms and car all on hold until mortgage is gone.

About 150 a month. We don't earn much at the moment due to setting up own business, but can afford it if we do it as part of the payment...the money doesn't get frittered then!

Every now and then we have had a small lump sum so pay that off too, up to the 10% last year.

At the end of our fixed period we will remortgage and shorten the term hopefully.

We overpay by £1000 each month, which is an extra 66% of the standard payment. We've been doing this for a year, but will have to stop when I go on mat leave in Jan, as I'll only get SMP.

150 is about 20% of our normal monthly payment. Mortgage is around 140k.

My current account and savings accounts pay 0.25% before tax and my bank is going to charge me for having money in my business account so no point in having money here at all. I have repaid the whole mortgage and am glad I did. I am now saving to help each of the children with their purchases too. I don't care if borrowing to buy is very cheap at present and remains so for ever rent or mortgage remains most people's biggest cost even when they also pay full time childcare costs so paying off that debt is always both financially and pyschologically wise if you are lucky enough to have the spare money. It was a massive deal for me when I paid off my mortgage almost 2 years ago. Like a millstone off my neck.
(My mortgage had no life cover or sickness cover so nothing lost by not having that and my youngest leave home next year anyway so I'm not wasting money on life cover either).

We overpay in Jan and Feb when we don't pay council tax, and in July/Aug when I get my bonus.

Otherwise we randomly pay £100 if we have it left at the end of the month. We're on a fixed rate though so overpayments are limited to £500 per month.

I don't overpay, although I did reduce the term when I remortgaged earlier this year.

I think life insurance/critical illness cover is usually separate to a mortgage (although often taken out simultaneously and linked to the amount of your mortgage). My policy is via my workplace pension, so completely independent of my mortgage.

My current account and savings accounts pay 0.25% before tax and my bank is going to charge me for having money in my business account

You need to change banks!

Mortgage is £1200 we pay £1800 so overpay by £600 a month

Nothing, because mortgage is already £1100 😕

We overpay into an offset account linked to our mortgage - about £1100 per month, mortgage around £3300. We are in London with big mortgage! But that is really our savings so it does get used. Eg we top up DH pension once a year from this and pay for any one off big expenses. So the amount fluctuates quite a lot. It's looking a bit sad at the moment as I am just reaching the end of my mat leave. Hoping to start chipping away at it in earnest from now on.

We overpay between £400-£500 per month (don't actually know what our monthly payment should be) as we never reduced payments when interest rates were much higher. We also borrowed some extra (flexible mortgage) and voluntarily increased the payments by £200pm even though we were already paying more than was needed to cover the increased amount. Mortgage runs til 2026 but should be paid off next year.

There's a calculator on money saving expert that shows you how much you can save by overpaying. We could save £21000 and 3 years if we could manage to overpay by just £50 a month.

Nothing at the moment. There's nothing a decent amount in my offset account but a fair whack of that will be used for a replacement car in the near future. I only bought my first place two years ago by myself so a pretty big percentage of my wage already goes towards housing.

We paid ours off in 14years. Mainly with bonuses and a small amount of inheritance. I also kept shortening the term which saved loads.

Around £100 per month as we have debt we are clearing but once that has gone we will double that

We have recently paid off our mortgage completely but prior to that we were overpaying by £250 a month for a few years.

Nothing at the moment - DH is starting a business and we are losing money at the moment. We hope to be in the position of overpaying by £100 per month again by this time next year (because either the business will have worked or DH will have gone back into the rat race!).

We don't overpay as such, but took out a shorter mortgage term. We decided what we wanted to pay (£2k/month), and took out a mortgage term that matched that.
I guess that means we pay around double per month as someone with a standard 25year mortgage would for the same property.

In a few months we will be in a position to do this and are going to be putting in £1000 a month, which will be double the payment. Our mortgage is due to be paid off in 10 years and we want to cut it in half.

At the moment about £300 a month. With interest rates so low we want to make as much of a dent in it as possible so we're in a better position for when they rise.

That's a huge amount op.

We don't overpay much monthly - our mortgage is something like £511.20 and i've rounded the Standing Order payment up to £550.

I get a decent annual bonus now though of between £5k and £8k net - and the last couple of years we've made one off payments of £3k when I get this.

We did.

Basically when we took the mortgage out in 2006 interest rates were fairly high. Then they went up a bit more. Then we hit the credit crunch and they fell like a stone. We left the mortgage payment at what it was (rounded up to the higher £100) even when our actual mortgage was only about a third of that figure.

We also overpaid by my annual bonus and my annual share save sale money.

We don't any more because nearly two years ago we paid it off.

Very happy about this. No one can take my children's home. (Although I do slightly regret not going on 5 unbelievably fabulous pre-kids holidays and having a mortgage of £20k!)