Hi there
I wonder if you are able to help or point me in thE right direction. Not sure if I can ask you.
Basically, we are coming up to re-mortgage and I have 3 queries which is the better route in teh long term.
1) whatever our mortgage is now - the idea is to pay £100 more and according to thE online calculators, by doing this seems to decrease the term remaining by a few years.
or 2) is it better to have the mortgage we are paying now - do not rope up to paying the £100 in addition to that but to simply go in and over pay the £100 manually every month. But will this way be the same as reducing the years or capital
3) do not do either of the above, keep the basic mortgage the same but for us to bank the £100 every month so in 5 years time, one would have a lump sum of £6000. And then use this off the next re-mortgage. but will thsi be better than no1 or 2
Look forward to your reply.
I appreciate you have not got the full facts and fugures
many thanks in advance
Paul

You really need to go through the individual figures to see what works for you on paper - generally if you're remortgaging you should be looking at a lower % rate in the first place - hence the attraction.

However, you should be able to overpay most mortgages, but watch out for restrictions on doing so.

I agree with Brian, I'm also of the opinion that it's worth fixing at the moment, as when interest rates are increased there is no telling where they will end up, so it's certainly worth sticking with the relatively cheap rates that are available at the moment.