Good afternoon - I'm after a bit of advise please.
I moved into my new property in June 2011 and was able to transfer my previous mortgage across and took out another mortgage for the remainder.
I have my initial mortgage which was £100,079 at 3%
The second mortgage was £77,571 at 4.88%
I want to make regular overpayments on my mortgage and have set up £20 a week on the 4.88% mortgage and £15 a week on the 3%.
Does this make sense, or would I be better paying all the money towards the 4.88%?
Any advise would be appreciated
I moved into my new property in June 2011 and was able to transfer my previous mortgage across and took out another mortgage for the remainder.
I have my initial mortgage which was £100,079 at 3%
The second mortgage was £77,571 at 4.88%
I want to make regular overpayments on my mortgage and have set up £20 a week on the 4.88% mortgage and £15 a week on the 3%.
Does this make sense, or would I be better paying all the money towards the 4.88%?
Any advise would be appreciated