How the mortgage on your home works, what changes when a deal ends and what the numbers actually mean.
Overpaying a mortgage takes money straight off the balance, so you pay less interest and can finish years early. This shows what different overpayments could save on an illustrative mortgage, how lenders apply them and the checks worth making before you send any.
When a fixed rate ends, your mortgage moves onto the lender's standard variable rate unless you have arranged a new deal. The payment usually rises. This explains the SVR, product transfers and remortgages, the Mortgage Charter and early repayment charges, with a six-month timeline, a worked example and a documents checklist.
