Overpaying on mortgage payments could save thousands
www.moneynews.co.uk > Mortgages > Overpaying on mortgage payments could save thousands
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Money News |
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Overpaying on mortgage payments could save thousands
Mon 15th Aug 2005
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The survey found that the average City worker receives a bonus of over £15,000, and by using just £5,000 of this to make a one-off mortgage payment, borrowers could save around £9,000 and shave a year and a half off their mortgage term.
Elliot Nathan of charcolonline comments: "It’s all too easy to splash out on luxuries and treats with a bonus, but we are reminding homeowners to consider how much they could potentially save, just by one simple overpayment on their mortgage."
He concluded: "By making savings now, homeowners will leave themselves with more money in the future to be able to treat themselves."
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