Head of Lycetts, Chris Booth, has advised against overpayments due to interest rates (Image: Lycetts)
In the wake of recent findings a financial expert is urging West Midlands homeowners to avoid panic-buying mortgages overpayments.
The survey, conducted by Lycetts Financial Services, shows that 57 per cent of homeowners would rather pay off mortgages than save.
Head of Lycetts Chris Booth advises against hasty overpayments due to high inflation rates.
He said: "Forecasts now suggest inflation may have peaked, indicating a potential decline in interest rates in the future.
"One of the key arguments against making larger mortgage payments is the loss of financial flexibility.
"Tying up all resources in a property can limit options."
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