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You'll be eating into the debt you've built up from buying a home, meaning you pay it off quicker.
You don't pay interest on the amount you overpay.
The money you'd save on interest often beats the returns possible by putting it in savings, given savings rates are currently so pitiful.
Tenderloin-
given savings rates are currently so pitiful
That reflects in the interest rate of the mortage too no?
I was under the impression that given its such a 'cheap' loan, delay it as much as possible and the LTV keeps reducing anyway because London ..
My savings are paying me about 1.5% more than what I'd have saved if I overpay.
Maybe I need a re-think.
amey
y?
genuine question.