Should you overpay on your mortgage?
Mortgage overpayments help you pay off your mortgage sooner and reduce the amount of interest you pay. Research shows that if a borrower took out a £200,000 mortgage over a 25‐year term, they could save £1,146 in interest by making a monthly £100 overpayment, becoming mortgage‐free four months earlier. Those who can make a £100 overpayment each month on a £200,000 mortgage could save £9,948 in interest and reduce their mortgage term by three years in the process. Those with a