Show me the way :-)

Good morning :)

could I please ask your advice on which way you would go if you were me.

12 yrs left on a Northern Rock , now Virgin Money repayment mortgage

fixed at 4.09% for the next 3 years at a cost of £807 per month

total of 91k owed, 7k of that on a secured loan

house value at present approx 190k based on others in area

our joint salary is 58k per annum both in same jobs more than
20 years

I have decided that I would like to be rid of the mortgage to coincide with my 50th birthday:eek:. To do this I need to pay an extra £450 per month which is doable. My question is do I reduce the term by 5 years, or keep the same and just overpay. Also would there be any benefit in directing overpayments to the secured loan part of the mortgage which may get me browny points at the end of the fixed rate in 3 years time with an application to another lender?

By the time my fixed is up and say I do actually end up owing 55k at that point, it would mean that I would have 4 years left to get to the big 5O, is that a bit of an odd mortgage term 4 years.

Thanks for putting up with my ramblings....so many questions...never enough time!

Regards

Dellilliah :D