With all the savings drops.....

gogsboy

What is best to do, I'm reading about this regular savers accounts being popular due to a higher rate but are they fixed or likely to drop like stones too.

I used to just leave savings in an account like Nationwide e-savings or KE and have an ISA too, should probably have been more wise to topping that up.

Whats best for myself, ISA maxed out for this year, 55k left on Mortgage at 5.49 fixed for another 3-4 yrs I think, interest only with investment backing which has been running for 6 and half years, obviously its taken a drop too.

Savings around 35k, currently moved to Natwest only for them to go and drop the rate, basic salary of 45k at present.

jennifernil

Regular savers are good if you have a spare £250-£500 (or less) every month to lock away, the rate is usually fixed and you soon build up a tidy sum.

If you can repay a chunk on your mortgage without penalty that could make sense, as your savings rate for your £35k will be less than your mortgage rate.

If not, then I would be grabbing a fixed rate savings account now and locking away as much as possible.

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