I thought I’d write a short post on the impact the recent changes to the interest rates have made to my mortgage payments. This time last year I was paying just under £1,000 a month, now I pay just over £500. So what am I doing with this extra money?
Well I have set up a high interest savings account and have a standing order in place to pay £500 a month to this account. The money in the account will be used to make over payments against my mortgage throughout the year. I need to investigate further the positive impact these over payments will have on my own mortgage payments.
