I've been overpaying my mortgage: Can I get the money 支援する and stick it in a higher 率 貯金 account? David Hollingworth replies

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I'm one of the lucky ones who decided to take out a five-year 直す／買収する，八百長をするd mortgage with 全国的な in December 2021 at a 率 of 0.94 per cent. I have three years and three months remaining.

During a four-year period 主要な up to this, I made overpayments totalling £19,000.?

I have since stopped making overpayments, with the 見解（をとる） that my money would be better off in a 貯金 account given the 高金利s 現在／一般に on 申し込む／申し出.

Should I pull the £19,000 支援する out of the overpayment reserve, and instead put in a three-year 直す／買収する，八百長をするd 率 社債? I would be able to earn around six per cent 利益／興味 on the money, and I could 返す it 支援する into my mortgage at the end of the 称する，呼ぶ／期間／用語.?

If my maths is 訂正する,?£19,000 収入 six per cent 利益／興味 over 3 years should 円熟した at £22,629.30, meaning I would earn £3,629.30 or just over £100 per month.

Savvy to save? Our reader thinks he might be able to 支払う／賃金 more money off his mortgage if he takes the money out, puts it in a high-利益／興味 貯金 取引，協定, then puts it 支援する in with 利益／興味

全国的な 許すs an 年次の overpayment of 10 per cent of the 初めの 貸付金, so in my 事例／患者 £25,000. Therefore the £22,629.30 would 落ちる below this, getting the money 支援する in with no 刑罰，罰則.

I understand my 月毎の mortgage 支払い（額）s would 増加する, but surely it would be いっそう少なく than £100 per month - and the 付加 money would be 支払う／賃金ing off the mortgage balance.?

I 最初 始める，決める the overpayment to bring 負かす／撃墜する the mortgage 称する，呼ぶ／期間／用語, instead of 増加するing my 月毎の 支払い（額）s. This means I could keep my 月毎の mortgage 支払い（額）s the same, and 簡単に 延長する the mortgage 称する，呼ぶ／期間／用語 支援する out.?

Have all the 星／主役にするs 提携させるd on this, or am I 行方不明の something??D.J, 経由で email?

SCROLL DOWN TO FIND OUT HOW TO ASK DAVID?YOUR MORTGAGE QUESTION?

David Hollingworth replies: With 利益／興味 率s 急に上がるing, the headlines have rightly 焦点（を合わせる）d on those borrowers who are taking on much higher 率s than they've been accustomed to.?

However, the 十分な 軍隊 of the 率 rises hasn't 影響する／感情d all borrowers, and you are a good example of someone that has been fortunate enough to lock in for the medium 称する，呼ぶ／期間／用語 at the low point.

As you 認める, so much of this is a 事例／患者 of タイミング. Nonetheless, you've certainly made a good choice and your 現在の 取引，協定 示唆するs that you managed to lock in at the most opportune moment.?

In fact, the base 率 began its climb just after you 直す／買収する，八百長をするd in December 2021, and 増加するd at every 会合 since until the 持つ／拘留する in September this year.

It's a good idea to think how about you can use the remaining three years of your low 率 to your advantage.?

Planning に向かって the point when the 現在の 率 will end should help you make the move to the higher 率 環境 that is likely to 固執する. Even if 率s do 緩和する 支援する by then, it's ありそうもない to be to the ultra-low level of 最近の years.

Often it would be sensible to think about overpaying the mortgage each month to 削減（する） the 資本／首都 balance more quickly.?

Some borrowers will still prefer that approach to watch the mortgage tick 負かす／撃墜する, just as you have done in the past.

Mortgage 率s vs 貯金?

However, the 早い rise in 利益／興味 率s means that, while mortgage 支払い（額）s are going up, so is the 量 that savers can earn on the money they tuck away.?

Where overpaying the mortgage would usually はるかに引き離す the return on cash 貯金, it now looks 有益な to save instead, for as long as 貯金 率s can 持続する a better return than cutting the mortgage.

> See the 最新の best-buy 貯金 率s?

Three-year 直す／買収する，八百長をするd 率 貯金 社債s can be 設立する at around six per cent. Even if 税金 on the 利益／興味 was payable that would still 示す a 相当な 改良 over cutting the 返済s on a mortgage 率 below 1 per cent.?

As with many 貸す人s, 全国的な 許すs overpayments of up to 10 per cent per 年 without incurring an 早期に 返済 告発（する），告訴（する）／料金.?

But unlike others, the overpayments build up an 'overpayment reserve' and the borrower can decide whether they want to use this to 減ずる their 月毎の 支払い（額）s, or to 持続する the same level of 支払い（額）s but 削減（する） the length of the mortgage.?

You have chosen the latter 選択, so the reserve is still 損なわれていない.?

Can you borrow the money 支援する?

The big question here is whether you will be able to take out the money you have overpaid on your mortgage in cash, ーするために put it in a 貯金 account.?

In the past, mortgage 貸す人s' reserve 施設s worked in a 類似の way to 柔軟な mortgages, enabling the 基金s to be 'borrowed 支援する'.?

That borrow 支援する 施設 may 固執する for some 全国的な 顧客s, but it will be those with older mortgage accounts, usually those taken out before March 2010.?

Even if you have held your mortgage for that length of time, the switch to a new 製品 will 除去する 接近 to those 施設s.

Mortgage maze: There is plenty to think about for this reader - 含むing whether his bank will 許す him to 身を引く the money he has overpaid on his mortgage in cash?

The overpayment reserve will have built up as you've made overpayments in 最近の years, and will remain in place unless you have elected to 除去する the reserve.?

However, if you remortgaged in 2021 as you say, then it is likely that instead of 存在 利用できる to borrow 支援する in 十分な as a lump sum, the reserve would only be 許すd to be used to 基金 underpayments or 削減（する） the mortgage 称する，呼ぶ／期間／用語.?

Making underpayments would 使い果たす the overpayment reserve 徐々に, and as it did so the mortgage would 増加する.?

The same mortgage 率 would 適用する, so the 原則 of コースを変えるing the usual 月毎の mortgage 支払い（額）s to a 貯金 account to earn a higher return after any 税金 would still 持つ／拘留する true.?

You could use the reserve to make your 月毎の 支払い（額）s, and put in the money you usually 支払う／賃金 to 全国的な each month into your high-支払う／賃金ing 貯金 account.?

However, underpaying would be more of a drip 料金d and it would 影響する／感情 the ability for you to lock in a favourable 直す／買収する，八百長をするd 貯金 率 on a lump sum.?

You'd also need to keep an 注目する，もくろむ on the best 貯金 率s that 許す 正規の／正選手 支払い（額）s in.

That will change your sums somewhat, but if you decide to go ahead you can check with 全国的な to 確認する the level of your 利用できる overpayment reserve and understand the 過程 要求するd to enable underpayments.