Why it helps
Overpayments reduce the balance interest is charged on, so more of every future payment clears the debt rather than the interest. Even small regular overpayments compound over time.
Check the limits
Many fixed deals allow overpayments up to a yearly cap (often around 10%) without an early repayment charge. Check your terms first.
Frequently asked questions
Overpay or save instead?+
Compare your mortgage rate to the savings rate you could earn. If the mortgage costs more than savings pay, overpaying usually wins — but keep an emergency fund.