Remortgage to use equity or not

nem39esis

Ok, i bought a new build house back in 2009, its a town house in a row of 4. At the time i drove a hard bargain and managed to knock 30k off the asking price and paid 170k whilst my neighbours all paid 200k + for theirs.

My mortgage is 144k over 35 years and is currently at only 2.5%

So, i was wondering, would it be worth remortgaging now and putting the equity into a savings account? is it even possible? the house is worth around 220k so 80k equity.

powerwin

Could you more fully explain why you want to do this?

I can see a few issues, namely that savings interest rates are very low at the moment, mortgage rates are higher, and you can't easily find fixed rate mortgage deals for longer than 5 years.

Rgds

Wh05apk

The new borrowing would likely not be at 2.5% but whatever deal would be available, also you would likely incur fees, so you would be unlikely to make any money by "borrowing to invest"