Should I overpay my mortgage or save the money?
Question:
I am wondering whether I would be better off overpaying my mortgage by £600 every month, or saving the same amount and making a lump sum repayment every year? I’m on a tracker with no penalties for overpayment and there are 24 years left on my mortgage. I think the first option is better (unless there is a savings account with a very high interest rate).
