London & Country Mortgages suggests overpaying while rates are low

Date:Wednesday 8th September 2010
Author: Susanna Kavka

People should try to overpay on their home finance deal during this low-interest climate, according to London & Country Mortgages.

Speaking to, David Hollingworth noted that there is plenty of talk about when the base rate will be raised.

However, he suggested overpaying on a mortgage while interest rates are so low will benefit consumers, no matter when the base rate changes, since the size of their debt will be reduced.

He commented on how tracker deals are likely to be looking the most attractive currently, but claimed the uncertainty such arrangements bring with them will not suit everybody.

"Borrowers need to consider how well they will cope with future rate hikes and the consequent increase in mortgage payments," added Mr Hollingworth.

This year, London & Country Mortgages won the accolade for best prime mortgage broker at the British Mortgage Awards, as well as several other accolades at the Unbiased Media IFA of the Year Awards and Money Marketing Awards.