Hi all,
I’m wondering should I start overpaying my mortgage?
We have spare cash every month that is just building up in the bank.
Mortgage is a 7 yr fixed (only 4 months into it) with avant @1.95% with 250k outstanding, approx 20 years left to pay. We can overpay by 20% each year.
We both have stable jobs, I am in a semi state with pension and my wife is working for a foreign multi national with pension.
We are both 40.
In the current climate with cash to spare am I better off paying off 20% a year, every year for 7 years, to lower the outstanding amount?
Thanks for any advice.
I’m wondering should I start overpaying my mortgage?
We have spare cash every month that is just building up in the bank.
Mortgage is a 7 yr fixed (only 4 months into it) with avant @1.95% with 250k outstanding, approx 20 years left to pay. We can overpay by 20% each year.
We both have stable jobs, I am in a semi state with pension and my wife is working for a foreign multi national with pension.
We are both 40.
In the current climate with cash to spare am I better off paying off 20% a year, every year for 7 years, to lower the outstanding amount?
Thanks for any advice.