{"id":138674,"date":"2023-08-07T13:00:32","date_gmt":"2023-08-07T06:00:32","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-overpay-my-mortgage-monthly-or-with-a-lump-sum-at-the-end-of-each-year\/"},"modified":"2023-08-07T13:21:53","modified_gmt":"2023-08-07T06:21:53","slug":"should-i-overpay-my-mortgage-monthly-or-with-a-lump-sum-at-the-end-of-each-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-overpay-my-mortgage-monthly-or-with-a-lump-sum-at-the-end-of-each-year\/","title":{"rendered":"Should I overpay my mortgage monthly or with a lump sum at the end of each year?"},"content":{"rendered":"


\nI 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 five years, and so I plan to overpay as much as I can. Does it make a difference how I overpay? Would it benefit me more to make a monthly payment or a larger lump sum at the end of each year? RHA If you had said \u201clarger lump sum at the start of each year\u201d, I\u2019d have said lump sum every time. But if the choice is between chipping away at your outstanding mortgage by making monthly overpayments \u2013 which reduces the amount of interest you pay \u2013 and waiting until the end of the year to bring down your mortgage balance, I would say monthly overpayments would be more beneficial. But both answers assume that you don\u2019t incur penalty charges by overpaying too much. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Should I overpay my mortgage monthly or with a lump sum at the end of each year?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I have a five-year fixed-rate deal, just missed the rising interest rates and want to...<\/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-138674","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-A4G","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":138674,"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":26145,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-overpaying-a-mortgage-preferable-to-saving\/","url_meta":{"origin":138674,"position":1},"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":120073,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-use-my-savings-to-overpay-my-mortgage\/","url_meta":{"origin":138674,"position":2},"title":"Should I use my savings to overpay my mortgage?","date":"December 7, 2020","format":false,"excerpt":"\r I 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60610,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-paying-off-the-mortgage-a-better-bet-than-saving\/","url_meta":{"origin":138674,"position":3},"title":"Is paying off the mortgage a better bet than saving?","date":"July 13, 2017","format":false,"excerpt":"\r We\u2019re worried about the impact of Brexit on our moneyQ We are a family with some savings \u2013 around \u00a370,000 \u2013 but are worried they might be worth less once Brexit is decided: ie, the pound will go downhill.So if we want to put the savings into something, is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":130657,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-pay-off-my-student-loan-and-use-spare-cash-to-overpay-my-mortgage\/","url_meta":{"origin":138674,"position":4},"title":"Should I pay off my student loan and use spare cash to overpay my mortgage?","date":"October 10, 2022","format":false,"excerpt":"\r I have \u00a35,000 left on the loan, which I pay \u00a3264 a month towards, and have a \u00a3168,000 mortgageQ I have a two-bedroom house in a desirable city. 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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\/138674"}],"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=138674"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/138674\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=138674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=138674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=138674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}