OverPaying on Mortgage


Frequent Poster

I'm luck in that I have a tracker mortgage. My mortgage was with Danske Bank but was transferred to Pepper some years ago.

As the interest rate is low, I've just paid the amount that will see the mortgage cleared after 30 years. There's quite a few years remaining on it now - 16 roughly.

I just want to get your thoughts on Options to clear the mortgage earlier e.g.

Overpay on the mortgage each month - this may be easier to adjust to - in general just by throwing an extra hundred or two hundred each month.
Pay a lump sum off the mortgage each year or multiple times a year
Don't try to pay off earlier as the interest is so low

I don't have any other debts at the moment. So just looking for observations.