Another mortgage overpayment question

[Donuts000]

If we are planning to move in 3 years time is it still worth overpaying or should we build up savings for a bigger deposit instead?
Partner is self employed and I can't work so mortgage options are limited.
I'm thinking best option is build up bigger deposit then over pay when we are more settled.
We have one credit card on 0% so paying that off over three years before we move
Thanks

hi, I'd say it depends on the rest of your finances - if you have a good emergency pot - overpay. otherwise I would save the money separately so you have a bigger deposit for your next move. Also, gives you the flexibility to do something else with the money if you need to.

Thanks for the reply. We were right up to the limit of what the bank would lend last time so I'm thinking I should save it for a bigger deposit just in case.

If you’re selling your current house then the equity in the house will be used towards your next house, so overpaying the mortgage is reducing the amount you will need to borrow so I don’t really understand up your logic.

Assuming the interest rate on your mortgage is higher than rate you earn on your savings and you have an emergency fund I’d overpay the mortgage.