The answer to this right now is YES YES YES if you can afford to.
This can’t be done with all mortgages (i.e. if you are on a fixed rate) but where it is possible and your income allows, it can bring real savings.
With interest rates on savings at an all time low and likely to stay that way for some time, repaying extra each month instead of saving this money can result in your mortgage being paid off years earlier and saving a small fortune in interest.
Perform a household budget to see if you can afford to save any extra each month. To find out how to perform a household budget read here
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