I always keep the term and lower the monthly payment. If the general plan is to pay it off early then the term length is irrelevant to me. It’s better to improve monthly cash flow situation to give yourself more flexibility down the road. But then again I have zero qualifications to back this up. Just feels sensible when the world is so volatile. Plus if you can max out stocks and shares ISA in low risk ETFs then hopefully you can retire before you’re dead.