Hello
I hope someone can give me some advice please. Bottom line is , I would like to know if it is worth overpaying on my mortgage or not. If so how much the savings would be .

Basically, I have a £155000 mortgage fixed on a replayment basis for the next 5 years. My morgage is _base_d on 20 years.
I pay £986 per month.

I know people say it is beneficial to overpay but I would like it if someone can tell me why and maybe have some facts or calculations/figures just to show me if it is worth it.

I feel I need the remaining money now but I was wondering if it would make a difference if I paid just £50 extra in over payment every month what difference would that make. My overpayment allowance is quite high for this mortgage.

Any advice if you can steer me in the correct direction would be very appreciated
best wishes
Paul Vinnie