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Would I then incur some sort of cost for clearing the mortgage earlier than the 5 yr repair interval has elapsed? If I overpay the utmost quantity every year without incurring an ERC (and choose to keep month-to-month payments the same), I calculate that the mortgage will be cleared after about 3.5 years. We see you would possibly be utilizing a default avatar. I don’t know whether the advice was to keep the term and funds the same or whether or not it was to decide to cut back the time period when making overpayments with the Nationwide. We wish to pay the least interest we can on this mortgage over the time we now have left with on the mortgage, so in the end paying the mortgage off within the quickest time attainable. My recollection is that I had read on this forum years ago, some advice about what option to determine on when making an overpayment however I cannot recall the advise.
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