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03 March 2011

if i make a lumpsum payment on my mrtg, is it worth reducing the number of years or reduce the monthly repayment amount?

i have a mrtg of 156k for the next 21 years, now i have a lumpsum of £5000. My bank says this payment could reduce the monthly premium by £30 or i could reduce the term, which would be a wise decision. Thanks

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