The Martin Lewis Podcast Question Time: Should I overpay my mortgage? If I sign up online, why can’t I cancel online? Can I open an ISA for my niece?
Mar 16, 2026
Listeners ask practical money and tech questions. Topics include whether to overpay a mortgage, which travel insurance policy to claim, and rules for opening a junior ISA. They explore cancelling online subscriptions, a broadband money-saving success, and quirky bits like how height affects step counts.
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Choose Best Travel Policy But Disclose Others
- If you have two travel insurance policies, claim from the one with the best cover but be honest about other policies when asked.
- The insurer you claim from may contact or seek recovery from the other insurer, so expect coordination or follow-up paperwork.
Overpay Mortgage Only If Rate Exceeds Savings Return
- Pay off expensive debts first; with mortgages compare your mortgage rate to after-tax savings returns before overpaying.
- If mortgage rate > savings return, overpay reducing capital (not just stretching term); keep 3–6 months emergency fund and check overpayment penalties.
LTV Improvement Can Yield Cheaper Remortgages
- Overpaying can also improve your loan-to-value (LTV) and help secure cheaper remortgage rates if your borrowing is above about 60% LTV.
- For borrowers under ~60% LTV, reducing LTV gives little remortgage benefit, so weigh other factors like taxed savings or investing.