Offset or Invest???

Bennyj_3

My partner is currently selling his house with a 50k profit.

I took out an offset mortgage (my mortgage is 80k) last year with the plan to put this money into the savings account to offset my mortgage.

What would be the best thing to do:-
1. Put the 50k in the offset savings account.... OR
2. Put the money into a high interest account.

Which option would give us the best return for the money?

Due to the interest rates dropping, I have kept my payments at the upper limit and am currently over paying by £150 per month.

Welshlassie

It depends on what your interest on your mortgage is and what rate you can get in a high interest account (after tax). Unless you have a very low mortgage rate, I'd guess that you are likely to get a better return offsetting it.