Homeowners are being urged to consider one simple move that could slash years off their mortgage and save tens of thousands of pounds in the process. With rates still shifting and many borrowers coming to the end of fixed deals, finding ways to cut long-term costs has become a priority.

Mortgage experts say there is one option that does not rely on switching lenders or increasing your salary. Instead, it comes down to making regular overpayments. George Abouzolof, senior mortgage advisor at Clifton Private Finance, said adding even a small amount to your monthly repayment can make a big difference over time.

"You can't control the market, but you can control how you respond to it," he said. "Rates change, lenders adjust their products, and the wider environment is always shifting.

"But choosing whether to overpay your mortgage, and by how much, is entirely within your control. It's one of the few levers homeowners can pull to improve their long-term financial position."

He gave an example of a typical £250,000 mortgage over 25 years at around 5% interest. Overpaying by £150 a month could cut roughly four years off the term and save more than £40,000 in interest.

The reason it works is simple. At the start of a mortgage, a larger share of each payment goes towards interest rather than reducing the balance.

Paying extra early on reduces the outstanding amount faster, meaning less interest builds up over time.

Research from TSB suggests many buyers are already taking this approach. Analysis found that 67% of first-time buyers are overpaying, with many aiming to be mortgage-free by the age of 40.

The same study found 68% now see paying off their mortgage as a bigger priority than saving for retirement, compared with 25% who focus on their pension.

Among more than 1,000 recent first-time buyers surveyed, 57% said they hope to cut years off their mortgage term.

Of those making overpayments, 43% do so every month, typically adding between £200 and £399. Around 9% are making lump sum payments of between £1,000 and £2,499.

Most lenders allow customers to overpay up to around 10% of their outstanding balance each year without penalties. But there are warnings.

Mr Abouzolof said: "Overpaying your mortgage works best when it's not competing with more expensive borrowing."

He warned borrowers to clear high-interest debts such as credit cards and personal loans first, and to check whether early repayment charges apply on fixed-rate deals.

He added: "Before making any extra payments, it's essential to understand exactly what your lender allows and what charges may apply."

He also stressed the importance of keeping an emergency fund, as money paid into a mortgage is not always easy to access again.

"Ultimately, this decision comes down to balance," he said. "Overpaying can save you thousands and help you become mortgage-free sooner, but it's not a one-size-fits-all solution."