lump sum + regular payment for 3 years

bearmarket

Hi! I have a fixed rate mortgage, and would like to save and/or invest any extra cash I have to be able to pay off a lump sum when the fixed rate ends in 3 years time.

Would anyone care to reccomend a strategy?

I'll have about 6 thousand pounds as a starting point, and hope to be able to put away at least 500 per month for the next 3 years, plus any other windfalls that might come my way.

I've done some sums and think it isnt worth putting any money into the mortgage before the fixed rate ends. I have no other debts apart from the mortgage, and would say I have a quite cautious attitude to risk. Also should say that Im not elible for an ISA as am residing abroad.

Was thinking to split maybe 70/30 between savings and investment products. Does this sound like a reasonable plan, and if so which products to use?
Thanks!

save-a-lot

to be honest savings rates are terrible at the moment and I would personally overpay now on the mortgage every month. The rate of interest on the mortgage will be greater than savings rates, therefore worth taking the mortgage down than saving.