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Yeah that’s fair, obviously if the additional amounts under the mortgage aren’t good terms or you can’t overpay (for any reason) that might change things - I just thought that term of borrowing could be a bit misleading as most mortgages do allow overpayments so a borrower would typically have more flexibility than they might otherwise think.
“Do your research” is always good advice though
andyfallsoff
That's sort of the point. It depends on your mortgage terms. Depends on whether borrowing more changes your rate. Depends on etc. etc.
That's why it's such a pain to compare mortgages without software because there are always a whole load of costs and variables.
On the unsecured personal loan side £20k/7yrs @2.7% is achievable. That's basically what our previous mortgage rate was and iirc we had a chunky penalty for ending our mortgage.
Tl;Dr if gillies wants to borrow money they should look at all options in detail.