Homeowners manage to overpay mortgage

Some homeowners have been able to pay off more of their mortgage each month because they have been spending less since March. Two out of five overpaid their mortgage by £370 a month, increasing average payments from £1,384 to £1,754, according to research by the broker First Mortgage. Around one in three said they found it easier to save money during lockdown, such as from being unable to visit pubs and restaurants (52%), travel (47%) or commute to work (35%).

The Sunday Times (15/11/2020)   FT Adviser (15/11/2020)