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Can Someone Answer My Question
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Put it in savings.
If rates go up so will savings so you will more than likely allways be OK with this save model.
If there are overpayment(over 500) penalties currently what are the full terms of your mortgages, do the low rates go up at some point what is the full term and normal payment?0 -
Thanks for all the advice this is really helpful. You have just changed my mind and I think I will put the savings/lump sum in an account. I have actually made two overpayments of £1,000 but they were one off payments and one of them was made early last year. The account is a lifelong tracker. My normal payment is £839 and it was over 9 years when we moved as kept the original mortgage and took out a further advance to pay for the house. The original mortgage was £76,000 but it has gone down quickly because it was over 9 years.The forest would be very silent if no birds sang except for the birds that sang the best0
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Use your tax free ISA allowance for both of you0
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