Investment & Investing

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Velocio in reply to @Greenbank
ERCs:
- 4.25% applicable until 30-06-2025
- 4% applicable until 30-06-2026
- 2.5% applicable until 30-06-2027
- 1% applicable until 30-06-2028
Mortgage is 4.13%.

I've no overpayment allowance left... anything I now pay is subject to the ERC.

All the overpayment calculators basically say "pay it off now"... but none account for ERCs.

I also don't have enough to pay the whole thing off... hence trying to just minimise charges, but maximise the amount saved on interest, by paying it off as fast as possible without incurring charges... at least until the ERC drops to 2.5%.

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Monster1985 in reply to @Velocio

Not financial advice.....but....4.13 is a pretty decent rate. Worth considering if you can fill up your pension allowances with the excess funds and just pay off the mortgage over time

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Velocio in reply to @Monster1985

I'm not stressed about pensions, I may not last that long. But I'll last long enough to be stressed by the mortgage.

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