How overpaying your mortgage could save you thousands

According to the Council of Mortgage Lenders (CML), an estimated third of all borrowers have overpaid their mortgage in the last seven years.

These people have willingly paid their mortgage lenders more than they owe them, either on a regular basis or by making occasional lump sum overpayments. Meanwhile, mortgages haven't been as affordable as they are now since the second quarter of 1999, according to research from Halifax. Mortgage repayments currently account for just over a quarter (27%) of a new borrower's monthly income, well down on the long-term average of 36%.
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