You should overpay on your mortgage, if you have some extra money with no immediate purpose.
That's according to consumer journalist and host of The Home Show, Sinead Ryan.
She says while a mortgage can be seen as good debt - as it is asset-backed and at a very low interest rate - those in a position to pay off more should consider it.
She told Lunchtime Live why this can be a good idea.
"There can be an argument if you have an extra lump sum, or an extra bit of cash, and you've no home for it - so there's nothing you could better do with it then paying off the mortgage or paying it down a little bit faster.
"It just means what you're doing is reducing the profit that the bank is going to get - and that's always a good thing".
She says paying off your mortgage quicker has obvious perks.
"When you're making an overpayment on your mortgage two things are immediately going to happen.
"The first thing that's going to happen is the payments that you're making, the debt it escalates downwards faster - or deescalates faster.
"The amount that you're paying off is faster, but also it reduces the term because you're just going to pay it off quicker.
"So in a lot of cases when you're paying it down, you have that double-whammy coming into it.
"And as we know with interest payment they're cumulative: the loan term gets quicker, the repayments get paid off quicker and that's brilliant - they're no downside to that, really."
'You have to do a calculation'
But Sinead says people need to do their homework on this.
"I'm advocating it if you have nothing else to do with that money - if you've no purpose for it right away and you don't need it.
"The question you always have to ask yourself is: 'I have lump sum here or an extra 50 quid a month - or whatever it is - is there a better home for that that will give me a greater return than paying off the mortgage?'
"So you have to do a calculation".
And she says people with variable rate mortgages can easily overpay, but those on a fixed-rate term may face an extra charge.
"They have the right to charge a penalty, and obviously that would be a reason not to do it.
"But in some cases, even where they advertise 'We are going to charge a penalty', very often they don't".
