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

Search Properties

Free Valuation

Take advantage of a free no obligation valuation.

Register With Us

Want to keep up to date with properties you might be interested in? Register with us to receive regular property updates

Mortgages

We have a dedicated financial team in to assist with any mortgage advice you may need! Click here for more details.

Find Out More

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.

Contact us today for advice and expertise within the property market

Sunnyavenue*

Latest Properties

Rhubarb Hill, Wakefield

£1,100 PCM

2 1 1

UnfurnishedA fabulous, energy efficient, two bedroom semi-detached property located in this modern development on the outskirts of Wakefield City Centre with good access to local schools and amenities as well as the M1 motorway.

Warren Avenue, Wakefield

£950 PCM

3 1 2

UnfurnishedA spacious three bedroom terrace property offering good size accommodation, conveniently located for access to local shops and amenities and with good transport links into Wakefield City Centre and further afield with Sandal, Agbrigg train station an the M1 motorway within easy reach.

Butler Way, Wakefield

£300,000

3 2 1

A MODERN three bedroom family home with EN SUITE, landscaped garden, and driveway with EV charging point in convenient location near Wakefield city centre. VIRTUAL TOUR AVAILABLE. EPC rating B84

2 bed property in Holly Court, Wakefield

Holly Court, Outwood, Wakefield

£169,950

2 1 2

Situated in Outwood is this TWO bedroom terraced bungalow benefitting from MODERN fitted kitchen and COMMUNAL parking and gardens. VIEWING ESSENTIAL. EPC rating E53.

Richard Kendall Estate Agents have been handling the sale of my property. Mandy has been my main contact. We've been extremely unlucky with buyers due to their personal reasons but throughout it all Mandy has dealt with everything with complete professionalism. She updated me with extreme regularity and I never felt I couldn't contact her. The agency certainly earned their very reasonable fee. Linda 21/10/2025

Karen at Richard Kendall was excellent in helping us through the process of buying a house. Her communication was regular and clear, and she was always on hand to deal with any queries or questions. Johnathan 21/10/2025

Absolute professionalism dealing with my house sale. Such efficiency, care and expertise. I would like to say a special thank you to Amanda Dyson at the Pontefract store who went above and beyond. You made a massive difference to the whole process. Thank you C 21/10/2025

We would like to say a massive thank you to Donna and Suzanne at the Ossett Branch for all their help during our house sale. It was a very difficult and stressful time for us due to a lengthy chain with plenty of complications and without them to reassure and guide us along we wouldn’t have made it through. Also we’d like to thank Karen at the Wakefield branch for her efficiency and help with our purchase. We can highly recommend Richard Kendall Estate Agent for both buying and selling properties. Christine 21/10/2025

A seamless process from start to finish. Everything was taken care of professionally and in a timely fashion. I would highly recommend Richard Kendall Estate Agents and a special thank you to Alison for making selling our property easy.I wouldn't hesitate to recommend Joanne and Richard Kendall Estate Agency. Hazel Holdsworth Greg 21/10/2025

My agent was Sarah she was great . Always kept me well informed , always pleasant and very professional . I like that Richard Kendall always answer the phone, all the agents are easy to talk to and very helpful at all times . I would recommend them to family and friends .Their whole team were nothing but professional excellence from beginning to end with our property being processed from market to completion in a little less than 6 months. Special thanks to Cathrine and Shireen for their care and attention to detail with excellent communication at every stage of the process. THANKYOU ALL Team Wakefield. Consumer 21/10/2025

Couldn’t have asked for a better experience buying a house for the first time, Liz was lovely and kept in touch with us regularly. Thanks so much for all your help. Rebecca 21/10/2025

We have never sold a house before and had heard that it can be a very stressful process. In many ways it was, but the whole experience was made much more bearable and positive due to the great service provided by 2 wonderful ladies - J and D. They provided great service, kept us updated, were both cheerful and up beat and encouraging when viewings were slow, and offered helpful advice and guidance. When a purchaser was eventually found, they were in regular contact with the buyers and solicitors and helped to move things along. Great team work. Claire 21/10/2025

I've sold both my Mothers and Sisters house with Richard Kendall Ossett branch. Excellent company, very professional, polite and friendly staff, nothing too much trouble. All the staff was very helpful and Lucy kept us informed and updated on all stages of our sale. Would definitely recommend this company, and would use again Brian 21/10/2025

Get Social

Facebook

Check out our Facebook page to be the first to hear about property news and our latest properties

Tik Tok

Instagram

YouTube

View our latest property tours and videos

Get in Touch

If you are looking to buy, sell or let a property in Wakefield and surrounding areas or would like a FREE property valuation, contact us via the details below and a member of our team will be in touch.

Contact your nearest branch