Hi all,
I've finally decided to increase my mortgage re-payments, rather than investing in a savings account or funds etc (I already have an SSIA & plan to put this off my mortgage next year)
However, my question is do I just increase the payment to whatever I can afford & leave my terms as is, or do I tell the bank that I want them to reduce my lending term, say from 25 yrs to 20 yrs? I'm not really sure what makes better sense ?
Thanks, Jane
I've finally decided to increase my mortgage re-payments, rather than investing in a savings account or funds etc (I already have an SSIA & plan to put this off my mortgage next year)
However, my question is do I just increase the payment to whatever I can afford & leave my terms as is, or do I tell the bank that I want them to reduce my lending term, say from 25 yrs to 20 yrs? I'm not really sure what makes better sense ?
Thanks, Jane