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Offset mortgage versus isa
darklordhere
Posts: 8 Forumite
Hi All
I am also a bit confused when it comes to Offset mortgages.
We have a Santander flexible mortgage - Rate 3.75%
We have a savings pot along side this.
Each month when we make any overpayments they go into this savings pot while the mortgage payment stays the same and goes into the mortgage account.
We receive a deposit (Stated as overpayment) each month added into our savings pot. This I can only assume is interest at 3.75% (On 02.02.10 - £7.32 received on savings pot of £2397.37).
We have ISA's which are earning a pultry amount of .10% which we are looking to transfer but are wondering if we would be better off putting these in this savings pot which has instant access. Best transfer ISA rates that I can see are only 2.75%.
Or maybe only put new monies available for a new ISA into this pot and just transfer the old ISA's?
Does any one have any suggestions for me please?
Just trying to make the most of our hard earned cash!
I am also a bit confused when it comes to Offset mortgages.
We have a Santander flexible mortgage - Rate 3.75%
We have a savings pot along side this.
Each month when we make any overpayments they go into this savings pot while the mortgage payment stays the same and goes into the mortgage account.
We receive a deposit (Stated as overpayment) each month added into our savings pot. This I can only assume is interest at 3.75% (On 02.02.10 - £7.32 received on savings pot of £2397.37).
We have ISA's which are earning a pultry amount of .10% which we are looking to transfer but are wondering if we would be better off putting these in this savings pot which has instant access. Best transfer ISA rates that I can see are only 2.75%.
Or maybe only put new monies available for a new ISA into this pot and just transfer the old ISA's?
Does any one have any suggestions for me please?
Just trying to make the most of our hard earned cash!
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