Brendan Burgess
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Hi Sparky
That is a caveat only for fixed rate mortgages. You can overpay a variable rate in part or in full at any time.
I would guess that the advantage of having a lower scheduled repayment probably outweighs the advantage of being able to pay more off the fixed amount. If you hit the 10% restriction, you can save it up and pay it off as a lump sum when the fixed rate ends.
Brendan
That is a caveat only for fixed rate mortgages. You can overpay a variable rate in part or in full at any time.
I would guess that the advantage of having a lower scheduled repayment probably outweighs the advantage of being able to pay more off the fixed amount. If you hit the 10% restriction, you can save it up and pay it off as a lump sum when the fixed rate ends.
Brendan