{"id":138357,"date":"2023-07-17T15:00:23","date_gmt":"2023-07-17T08:00:23","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/in-the-balance-with-rates-rising-is-overpaying-your-mortgage-a-good-move\/"},"modified":"2023-07-17T15:08:58","modified_gmt":"2023-07-17T08:08:58","slug":"in-the-balance-with-rates-rising-is-overpaying-your-mortgage-a-good-move","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/in-the-balance-with-rates-rising-is-overpaying-your-mortgage-a-good-move\/","title":{"rendered":"In the balance: with rates rising, is overpaying your mortgage a good move?"},"content":{"rendered":"


\nHomeowners are desperate to find ways to reduce the bill they face each month, but should any spare cash be put into the home loan, or a savings account? We weigh up the argumentsRising interest rates have pushed mortgage overpayments to their highest levels in more than 20 years as householders struggle to reduce their debts.Many people with money to spare are choosing to reduce the amount they owe in an effort to tackle the spiralling rates that have left so many others with huge bills once their fixed-rate deal ends and they go on to a new product. Continue reading…
\n
\nSource : theguardian.com
\nRead more…In the balance: with rates rising, is overpaying your mortgage a good move?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Homeowners are desperate to find ways to reduce the bill they face each month, but...<\/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-138357","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-zZz","jetpack-related-posts":[{"id":26145,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-overpaying-a-mortgage-preferable-to-saving\/","url_meta":{"origin":138357,"position":0},"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":140182,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-my-bonus-go-on-overpaying-the-mortgage-or-into-a-high-interest-savings-account\/","url_meta":{"origin":138357,"position":1},"title":"Should my bonus go on overpaying the mortgage or into a high-interest savings account?","date":"November 6, 2023","format":false,"excerpt":"\r Fixed-rate part of deal ends in August and I\u2019m worried about interest rate risesDon\u2019t get caught out by tax on cash interest, UK savers toldQ Our mortgage is split into two parts, as we ported a section of our original mortgage when we moved in 2021. The 2.5% fixed-rate\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":138357,"position":2},"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":138357,"position":3},"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":120830,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-continue-making-mortgage-overpayments-or-decrease-the-term\/","url_meta":{"origin":138357,"position":4},"title":"Should we continue making mortgage overpayments or decrease the term?","date":"June 21, 2021","format":false,"excerpt":"\r We could go with a period of 17 years or reduce our term and increase our monthly paymentsQ Our current mortgage deal is due to expire in September. We have 17 years left on the term and a \u00a3160,000 amount outstanding. At present, our monthly payment amounts to \u00a31,050\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":138357,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/138357"}],"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=138357"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/138357\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=138357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=138357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=138357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}