. What to Watch With Your Lender
You must confirm with your lender that extra payments are applied to principal and not used to reduce next month’s payment (which would simply buy a few days’ interest, not shorten the term.)
Also check whether:
The viral TikTok says:
“Overpay by one extra payment a year and youll shave years off your mortgage"
Lets break that down and fact check that...
Every repayment mortgage in the UK follows an amortisation schedule - a fancy way of saying your payments are structured so that:
Interest is front‑loaded
Principal repayment is back‑loaded
In the early years, your lender earns most of their interest. In the later years, you finally start eating into the balance
