Associate
Ok so I'm a bit dense when it comes to working out what's the better deal for me to pay more off my mortgage over 5 years.
My current deal is due to end and would have a balance of 89k left to pay.
What I need to know is what would pay more off the capital
Deal A)
Currently 20 years left and mortage of £450 a month and over paying by £250 a month
Deal B) reducing the term to 12 years and that works out at £700 a month also
After the 5 year fixed term which one would have paid off more?
My current deal is due to end and would have a balance of 89k left to pay.
What I need to know is what would pay more off the capital
Deal A)
Currently 20 years left and mortage of £450 a month and over paying by £250 a month
Deal B) reducing the term to 12 years and that works out at £700 a month also
After the 5 year fixed term which one would have paid off more?