advice on making overpayments to variable rate mortgage

[Leaky1]

Ok, i have decided to make monthly overpayments to the mortgage. See how that goes.

Does anyone have any opinions on question 4 above? - putting lumpsum payments against the capital. If a person intends to move in the short-term is it better to overpay to reduce the outstanding mortgage, or keep the lumpsum for future deposits.

 

[Leaky1]

Sorry, made a mess of my original post and ended up editing it instead of posting a new reply. Hmm.

Short recap then: mortgage of ?180,000 and possible negative equity of ?50,000. Our home is no longer suitable for our family and hope to move within 3years (if we're lucky). Should we keep our savings for future deposits or use a portion of it (approx ?10k) to reduce the neg equity?

 

[NorfBank]

Just keep saving until you are in a position to move (if you can get a better return on savings than on your mortgage). No point paying down the mortgage now if your plan to move is three years away.

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