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

$2 bed property in Plover Avenue, Pontefract$

Plover Avenue, South Elmsall, Pontefract

£185,000

2 1 1

A MODERN two bedroom townhouse with driveway and ENCLOSED garden on popular South Elmsall development. VIRTUAL TOUR AVAILABLE. EPC rating B87.

3 bed property in Carr Gate Drive, Wakefield

Carr Gate Drive, Carr Gate, Wakefield

£320,000

3 1 2

Superbly appointed throughout and set back from the main roadside is this attractive and EXTENDED three bedroom semi detached house benefiting from TWO RECEPTION ROOMS, attractive gardens, driveway parking and GARAGE. EPC rating D55

$3 bed property in Hamel Rise, Pontefract$

Hamel Rise, Hemsworth, Pontefract

£140,000

3 1 2

A SPACIOUS three bedroom semi detached home with large rear garden, garage and excellent POTENTIAL in popular cul-de-sac location. VIRTUAL TOUR AVAILABLE. Awaiting EPC rating.

Towngate, Ossett

£220,000

3 1 2

Situated close to Ossett town centre is this THREE bedroom semi detached property benefitting from AMPLE reception space and off road PARKING. VIEWING ESSENTIAL. EPC rating E48.

I recently sold a property with Elizabeth Cooke as the property consultant and the service has been nothing short of exceptional. Great feedback during the listing phase to keep interest in the property, through to weekly updates and A+ chasing of the chain to keep everything on track in the sale phase. Highly recommend, you're in safe hands here. Stephen 03/02/2026

Alice has been so helpful and friendly with my rental application - no question is ever too much! Karen 03/02/2026

Karen Marijewko was excellent and provided us with weekly updates during a difficult sale due to changes in deeds. Thanks for all your help Michael 03/02/2026

Sarah and the team at Normanton has been great with our sale, kept us up to date with proceedings both up and down the chain. Thanks for all the effort Sarah. Lodewikus 03/02/2026

Leah was absolutely amazing throughout my whole house buying process. From start to finish she chased things up and updated me, always had good communication and answered any questions/queries I had promptly. Can’t fault the service at all from Leah, thank you again! Would definitely recommend. Elise 03/02/2026

Liz constantly provided an exceptional service. We had good communication with prompt follow up with all our queries related to the house we were buying. Liz was friendly and helpful throughout the whole process. Thank you Liz. AM 03/02/2026

Quick sale (did we price too low?) but everything went through within weeks. Mandy kept us updated throughout the process. We are now living the life by the coast. Happy retirement to us. Edward 03/02/2026

Alison has been fantastic throughout our home buying journey. As first time buyers, we had plenty of questions, and she supported us every step of the way. She chased things up promptly, kept us updated without us ever needing to ask, and made the whole process feel much less stressful. We’d definitely recommend Richard Kendall and especially Alison to anyone looking for a reliable and supportive estate agent. Hayden 03/02/2026

I cannot recommend Richard Kendall enough, I would urge anyone who is looking to sell their home to use this estate agents. We had previously used 2 estate agents prior to using Richard Kendall, I wish we had gone with Kendalls from the start. Friendly, approachable, will help advise you in all matters. Other estate agents need to benchmark themselves against Richard Kendalls. Jo 03/02/2026

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