Discounted tracker ending soon - advice please.

de1amo

if you go to the' whats the cost ' site you can crunch all the figures and be better aware!

swayzak

de1amo wrote: »

last time i contacted them i was due a cheque in March--i have been with them about 4 years

I've only just found out about this membership - and I've been with Smile for 10 years !!

They never mentioned it to me.

I also insure through CIS.

All those points I could have earned ....

Gutted.

de1amo

İ only know about the bonus through Britannia and it didnt really influence the reason i took my business to them but as my mortgage is so low now it hopefully will seem a 'good'amount!-i have paid about 1080 for my svr interest over the year and think the bonus will be 30 -better than a kick in the teeth when interest rates are so low!

[Deleted User]

swayzak wrote: »

OK - so you're saying I should continue to overpay rather than save ?

Last advice I got was to save unless interest paid on mortgage is higher than savings interest ... :S

I think that the advice that you had regarding saving was probably sound. However, there are a few other things that you may want to consider. If you think that you may be tempted to spend the savings at some point then you may want to consider the overpaying option. Savings which are taxed will count towards income for Child Tax Credit assessment purposes and can also affect your entitlement to benefits if you have more than a certain threshold if you lose your job. If banks ever become jittery again then you may consider money paid off your mortgage to be "safer" than being left in a savings account.

de1amo

i am in a simular dilema as sway --savings and a mortgage with Britannia--none of the ctc etc apply to me-i do wish though that i had more than the 50k tthat is assured under the banking code