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Before you embark on paying off your mortgage, it is crucial to fully understand the terms of your mortgage agreement. Each lender has different policies regarding overpayments. Some mortgages come with penalties for early repayment or set limits on overpayments. For example, a borrower with a fixed-rate mortgage may be allowed to overpay a certain percentage without incurring fees. Therefore, confirm these details with your lender to understand your options fully.