Term reduction has become a key aspiration for mortgage holders, research by Intelligent Finance shows.
IF says almost three quarters of mortgage holders are wanting to reduce their mortgage term or increase their payments to reduce the balance over time.
It also found that nearly a third of people say paying off their mortgage or monthly mortgage repayment is their biggest financial concern.
The appetite for more flexibility is clearly strong, with almost half of all borrowers believing their current mortgage arrangements are restrictive.
One in five would welcome the ability to lower the amount on their regular mortgage payment.
IF says people seem to be looking at their mortgages holistically rather than being seduced by headline rates.
It found that six in 10 mortgage holders are fully aware of the total cost of their mortgage over its full term, almost double the amount from just 18 months ago.
Mark Parker, managing director of Intelligent Finance, says: We now have a new generation of mortgage holders who view their finances holistically and want more flexibility and the option to pay off their mortgage as soon as possible, rather than go on borrowing into old age.
“Offsetting delivers exactly this. Were putting mortgage holders firmly in the driving seat, right where they belong.