How can you accelerate your mortgage? - Richard Kendall Estate Agents

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A mortgage typically lasts around 25–40 years, depending on how much your home deposit was and what you are willing to pay back per month. So, the longer you stretch your mortgage term, the cheaper your monthly repayments will be but the longer you will be paying back your mortgage. Making overpayments is a good way of paying your mortgage off quicker, whilst also reducing the amount of interest you will pay back.

Reduce your interest rates

By overpaying your mortgage, you are far better off in the long run as you save on your interest rates and shorten your overall loan term. The interest is added onto your mortgage loan daily, so by paying more quickly you reduce the amount of interest added.

How does it work?

Accelerating your mortgage occurs by overpaying on your monthly repayments or by performing weekly repayments rather than monthly. Before accelerating your mortgage, you need to check with your lender about the terms of your mortgage agreement and make them aware of what you are doing. This is because your lender could easily mistake your overpayments for reducing your next monthly repayment, when in fact you want to reduce your overall term.

If you are on a fixed-rate mortgage, it is harder to achieve acceleration as you are typically only able to overpay by 10%.* Sometimes it can be better to remortgage your home to escape a fixed-rate mortgage and get a variable-rate mortgage i.e on a fixed rate mortgage you are limited to overpay up to 10% with most banks/lenders, whereas on a variable rate, it can be unlimited giving you more flexibility. This allows you to overpay your mortgage without any early repayment charges. By paying more each time or by paying weekly, you reduce your outstanding mortgage quicker, resulting in a faster decrease in the amount owed on your mortgage.

What happens when I pay off my mortgage?

When you have finally paid off your mortgage sooner than you knew was possible, you will have a new sense of pride. You will now outright own your property and feel proud while noticing extra disposable cash each month.

Accelerating your mortgage can make a huge difference in your overall financial freedom throughout your life. By overpaying or making more frequent payments, it can take away a large amount of interest added to your owed amount. Speak to your lender to discover your options and see how you could gain financial freedom this summer.

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I’ve been using Richard Kendall in Horbury to manage my buy-to-let properties and have been extremely impressed with the service, particularly from Alice. As a landlord, what I value most is having someone I can trust to simply get things dealt with properly, without me having to constantly chase or get involved. Alice is excellent in this respect. She’s professional, responsive, proactive and always keeps me informed when something needs my attention. She clearly understands lettings from a landlord’s perspective and makes the whole process straightforward. Any issues are handled quickly and efficiently, communication is excellent, and I have complete confidence that my properties and tenants are being looked after properly. Having dealt with various people and businesses in the property sector over the years, genuinely good service stands out. Alice is a real credit to Richard Kendall and I wouldn’t hesitate to recommend the Horbury team to other landlords looking for a reliable managing agent. Five stars and thoroughly deserved. Jon 15/09/2026

Amanda Holt was absolutely amazing at handling the sale of our house. Every step of the way she kept us informed and updated us the minute she heard any news and was super lovely. Everything was swift, easy and stress free and I would highly recommend them. Thank you so much again. Eleanor 14/09/2026

We had a lovely experience with Miranda at Richard Kendall. She was so helpful throughout the whole process and always kept us updated. Everything felt well organised, which made buying our home so much easier. We’re very happy with the service we received and absolutely love our new home! Thank you Miranda for all your help, we would happily recommend you. Karolina 12/09/2026

Karen at Richard Kendall Pontefract has been nothing short of exceptional. Due to a number of reasons my house was on and off the market a number of times. Most people could have given up hope but Karen was amazing. She was a great source of support, she understood my situation and thankfully we did get my house sold. I’ve no doubt that’s down to Karen. She provided a truly personal and amazing service and made sure I was at ease throughout. I can’t thank Karen and the team enough. I’d highly recommend Richard Kendall to anyone. They will look after you and make your home selling journey stress free. Thanks Karen. SH 12/09/2026

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