Martin Lewis has outlined the benefits of overpaying your mortgage, which can help save you thousands.
Speaking on the latest episode of The Martin Lewis Podcast on Spotify, he shared a “very simple rule of thumb” and suggested that if your mortgage rate is higher than you can earn in savings, then overpaying mathematically adds up.
The MoneySavingExpert then detailed some “gobsmacking savings” and read a thank you from a listener who saved £35,000 by overpaying, knocking 10 years off their mortgage term.
“I’ve already had messages from people saying ‘£35,000, that’s nothing, let me tell you how much I saved by overpaying,” Mr Lewis added.
