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Dilitante
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yoozer8
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I have been comparing mortgages on a banks website.

It appears that the term I choose does not effectaffect the interest rate I am offered.

In this case the deals allow 10% overpayment per year without penalty.

In this case does it makes sense to go for a longer term so my compulsory repayments are less, then voluntarily overpay in the first 3-5 years (after which point I will most likely remortgage).? This then gives me the option to be paying less should I get into financial difficulty.

I have been comparing mortgages on a banks website.

It appears that the term I choose does not effect the interest rate I am offered.

In this case the deals allow 10% overpayment per year without penalty.

In this case does it makes sense to go for a longer term so my compulsory repayments are less then voluntarily overpay in the first 3-5 years (after which point I will most likely remortgage). This then gives me the option to be paying less should I get into financial difficulty.

I have been comparing mortgages on a banks website.

It appears that the term I choose does not affect the interest rate I am offered.

In this case the deals allow 10% overpayment per year without penalty.

In this case does it makes sense to go for a longer term so my compulsory repayments are less, then voluntarily overpay in the first 3-5 years (after which point I will most likely remortgage)? This then gives me the option to be paying less should I get into financial difficulty.

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Dilitante
Dilitante
  • 131
  • 2

Mortgage term and overpayment

I have been comparing mortgages on a banks website.

It appears that the term I choose does not effect the interest rate I am offered.

In this case the deals allow 10% overpayment per year without penalty.

In this case does it makes sense to go for a longer term so my compulsory repayments are less then voluntarily overpay in the first 3-5 years (after which point I will most likely remortgage). This then gives me the option to be paying less should I get into financial difficulty.