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If you have spare cash move to a nicer place
Or buy a fixer, renovate and extend it then sell.
Overpaying mortgage is dead money atm especially if your overall prospects are good.
Cash for the next move does not have to be equity in the home, that’s only useful for remortgaging. It can come from any source.
Howard
going to be remortgaging in the next few months. what factors do people take into account when deciding on how to much to overpay/up their monthly payments by? I am in a much stronger financial position than I was when I took out the mortgage 2 years ago so could comfortably double the payments and cut down the loan period quite significantly (its currently 33 years - I'm only 28)....
at the same time, interest rates are so low that I am not really in a huge rush to get it paid off - with savings from salary going into my S&S ISA etc. On the other hand - we will probably move again in 3-4 years and as my partner doesn't earn a huge amount it would be great to build even greater equity in our place, in time for our next move