{"id":120073,"date":"2020-12-07T14:00:32","date_gmt":"2020-12-07T07:00:32","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-use-my-savings-to-overpay-my-mortgage\/"},"modified":"2021-02-02T17:53:27","modified_gmt":"2021-02-02T10:53:27","slug":"should-i-use-my-savings-to-overpay-my-mortgage","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-use-my-savings-to-overpay-my-mortgage\/","title":{"rendered":"Should I use my savings to overpay my mortgage?"},"content":{"rendered":"


\nI have a new job with more money and am weighing up options, given the poor interest rates on savingsQ I am in the fortunate position of having managed to save a reasonable amount of money this summer and I have also got a new job with a decent pay rise. Would it be more sensible, given where interest rates are, for me to use my savings to overpay on my mortgage? I am two years into a five-year mortgage deal fixed at 2.1% and each year I am allowed to pay off 10% of the 27-year-term mortgage.I live in a two-bed flat in London without a garden, so currently it is likely that the flat\u2019s value may have dipped slightly, but I envisage being here for probably the next five years. PJ Continue reading…
\n
\nSource : theguardian.com
\nRead more…Should I use my savings to overpay my mortgage?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I have a new job with more money and am weighing up options, given the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-120073","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-veF","jetpack-related-posts":[{"id":139874,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-have-10000-left-after-a-house-move-should-we-save-it-or-overpay-the-mortgage\/","url_meta":{"origin":120073,"position":0},"title":"We have \u00a310,000 left after a house move \u2013 should we save it or overpay the mortgage?","date":"October 16, 2023","format":false,"excerpt":"\r I think overpaying our loan won\u2019t affect our monthly repayment as we\u2019re on a two-year trackerQ After a recent house move we have about \u00a310,000 in savings left over. We\u2019re now on a two-year tracker mortgage while we navigate the uncertain economic times and rates.My question is: would it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138674,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-overpay-my-mortgage-monthly-or-with-a-lump-sum-at-the-end-of-each-year\/","url_meta":{"origin":120073,"position":1},"title":"Should I overpay my mortgage monthly or with a lump sum at the end of each year?","date":"August 7, 2023","format":false,"excerpt":"\r I have a five-year fixed-rate deal, just missed the rising interest rates and want to plan for an uncertain futureQ I took a five-year fixed-rate mortgage last summer and was lucky enough to just miss the rising interest rates. I\u2019m looking ahead, as things could still be tricky in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102914,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-mortgage-payback-time-now-savings-rates-are-grim\/","url_meta":{"origin":120073,"position":2},"title":"It\u2019s mortgage payback time now savings rates are grim","date":"January 13, 2019","format":false,"excerpt":"\r More young people are opting to overpay, cutting the term of their house or flat loanIt has been a grim decade for savers and it now appears younger people are looking closer to home in an attempt to make their money work. Consumer group Which? has found that well\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26145,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-overpaying-a-mortgage-preferable-to-saving\/","url_meta":{"origin":120073,"position":3},"title":"Is overpaying a mortgage preferable to saving?","date":"May 29, 2013","format":false,"excerpt":"\r We could overpay our mortgages by \u00a3500 a month, but we wonder whether saving the money might be preferableQ My wife and I have two mortgages with our lender and we reckon we can afford to overpay them by up to \u00a3500 a month. The larger mortgage is on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131122,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-overpay-the-mortgage-and-borrow-money-for-house-renovations\/","url_meta":{"origin":120073,"position":4},"title":"Should we overpay the mortgage and borrow money for house renovations?","date":"October 24, 2022","format":false,"excerpt":"\r The work would cost \u00a325,000 and we can afford to save about \u00a3500 a month towards itQ We currently have a mortgage of \u00a3122,000 and need to complete some home renovations costing \u00a325,000. We can afford to save about \u00a3500 a month to put towards the house renovations but\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":545,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fear-may-be-making-you-overpay-for-your-mortgage\/","url_meta":{"origin":120073,"position":5},"title":"Fear may be making you overpay for your mortgage","date":"November 25, 2015","format":false,"excerpt":"\r A wide swath of borrowers today may be paying far too much on their home loans, simply because they are overly cautious. Why?\r \r Source : cnbc.com\r Read more...Fear may be making you overpay for your mortgage","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/120073"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=120073"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/120073\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=120073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=120073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=120073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}