From: google@woodall.me.uk
Newsgroups: uk.finance
Subject: Re: Mortgage Question
Date: 29 Nov 2006 06:05:14 -0800
   posting-account=PD8wmAwAAAAX-12HCfGSGclgQNEuSslv


Ed_Zep wrote:
> I have a mortgage of about =A378k over 21 years. 20k is interest only.
> I'm looking to overpay by =A3100 a month on the repayment part of it.
> Would it also be smart to turn it into a full 100% repayment mortgage
> at the same time?
>
> Sorry if this is a daft question!

Makes no difference at all unless the rate on interest only are higher
than the rate on the repayment part.

All the people I've known who have had interest only mortgages have
overpaid anyway without any issues.

Even if you aren't allowed to overpay your interest only part you only
need to worry about it once the outstanding amount is reduced to 20k

Tim.