Mortgage interest rates

Hi Folks,

My question is that with interest rates so low at the moment the money I owe on my house seems to be going down a lot, (I have a tracker mortgage) so if interest rates stay low for another while does this mean that the term of my mortgage will reduce?

thanks

No.

The way to do this is to ask your bank to maintain your repayments at a set level (so when interest rates fall you start overpaying).