Often when you have been reading my blogs you will want to increase the repayments on your mortgage.  It should be an easy thing to do.  Not always. When you go to the bank to ask about increasing the repayments, they will often happily oblige and your mortgage will be repaid quicker.  Great news! No issue there.  However, often people in my classes find they have been allocating a lot of money to other places.  They now wish to allocate it to pay their mortgage off in order to decrease the term.  Decreasing the amount of interest they have to pay.  Great stuff! When you fix a mortgage, you have gone under contract with the bank and agree to pay a certain amount regularly to them.  Not rocket science I know.   As part of that contract, the bank has agreed to hold that interest rate for you for a certain period of time.  This works in your favour when interest rates are rising. If you choose to pay a lot more with each payment...