Martin Lewis has warned millions with a mortgage "it's well worth listening". The ITV The Martin Lewis Money Show star says mortgage holders could benefit by £10,000 after his handy advice in the latest episode of his ongoing podcast.
Mr Lewis said: "If you have a mortgage and some savings (or save each month) it's well worth listening to this, getting it right can be worth £10,000s to some..." The BBC star had linked to the latest episode of his Sounds podcast, which was released yesterday.
"New Pod's out: Shop Staff Insider Secrets | Should you save or overpay your mortgage? | 100,000s need to restart Child Benefit claims | And far more (plus some poor puns). Do give it a listen...," he had said as he promoted the episode.
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A fan replied: "I forwarded your email onto my son.. trying to encourage him to overpay on his mortgage. He's looked into it & is now overpaying. If he can keep it going he will reduce his mortgage from 25 years to 13!!! We've not worked out the savings. Thank you."
"On the other hand, surely mortgage rates if low enough is 1 of the best loans you can have? Putting money in higher interest paying account not be more beneficial?" asked a second. Another said: "Have you got a link to a written article at all Martin.
"I remember there was one a year or so ago but unsure if that has been updated recently to coincide with this podcast." Another asked: "Does this cover offset mortgages? I think they’re a great way to save on mortgage interest, but they don’t seem very common in the UK. (I first heard about them in Australia.)"
Another typed: "Hope the answer is over pay cause I'll be done and dusted 14 years early in September." And another wrote: "Is it better to overpay with a higher interest rate or lower? Forgive my stupidity."
"Martin lewis is it possible to be taxed on savings in a savings account? Or is this a myth I've heard on the Internet?" another asked.
