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North of London | If the interest is the same on both it makes no difference to where you make your payment the net to your debt will be the same.
If interest rates were different then that is another situation.
That said it is always best to pay down shorter term debt ahead of long term, especially when that long term is on long term items like land.
So I would pay extra off on tractor IF I had extra after I paid my mortgage payment.
Why bother the bank when you do not need to?
They might want to ask more questions than it is worth especially when it makes no difference to your costs. | |
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Forbearance on mortgage to pay off tractor
