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14 January 2010

i have a £48000 mortgage with the nationwide 5 years at 5.95% - about 4 years left to go on this rate - i have savings that could pay it off now

mortgage current term left is 16years - is it better to change mortgage to reduce the monthly payments (i already overpay £500/month) & move for 2 years to C&G or equal to then get on their standard variable rate & I can then overpay what i want when i want without penalty nationwide have calculated that if I keep overpaying, the mortgage will be paid off in 5 years anyway

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