Re: Should I make overpayments on mortgage?


"renneds" <smdenner@xxxxxxxxx> wrote in message
news:1158179900.555983.203160@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Hi

I am 4 years into a 25 year variable rate capital repayment mortgage
and recently decided to make an overpayment of about £1600. I've now
received a letter telling me the monthly payments will reduce from
£415.84 to £413.15.

I was expecting something a bit more spectacular than a £2.69
reduction.

I'd expect somewhere around £10 reduction if nothing else has changed. But have they
put their interest rate up, with the recent BOE increase? That might explain it.

--
Andy


.

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