A growing number of homeowners have turned their attention to mortgage overpayments as they look to fight back against higher interest rates.
Santander, one of Britain’s biggest mortgage lenders, reported a 78pc rise in the amount overpaid by its customers between 2022 and 2023 – but it’s not always the best course of action.
Paying extra on your loan repayments can reduce the interest being clawed back by your lender and speed up the process of becoming mortgage-free.
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