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The one account - am I wearing rose tinted glasses?
Greenwellies_2
Posts: 443 Forumite
Hi,
I've got 'lost' in the sticky about offset mortgages, so I apologise for repeating a question.
I currently pay £875 per month on my mortgage of £128K - Currently with HSBC - variable rate.
I looked at the one account, and they have quoted me £911 per month for the same value mortgage (was on interest only 'till December)
I have £3k in an ISA, and £7K student loan in a savings account. and a loan with a redemption value of about £7100.
If I use my 'savings (aka student loan)' to clear the loan, I would have £282 per month spare. Would I just be better off putting this money (£282) as an overpayment on my existing HSBC mortgage each month?
I don't want to jump from the frying pan, into the fire.
I've been accepted for the one account, I just worry that I will see -£128K on my bank statement and become a bit blasé about it, and never really pay it off.
Thanks
GW
I've got 'lost' in the sticky about offset mortgages, so I apologise for repeating a question.
I currently pay £875 per month on my mortgage of £128K - Currently with HSBC - variable rate.
I looked at the one account, and they have quoted me £911 per month for the same value mortgage (was on interest only 'till December)
I have £3k in an ISA, and £7K student loan in a savings account. and a loan with a redemption value of about £7100.
If I use my 'savings (aka student loan)' to clear the loan, I would have £282 per month spare. Would I just be better off putting this money (£282) as an overpayment on my existing HSBC mortgage each month?
I don't want to jump from the frying pan, into the fire.
I've been accepted for the one account, I just worry that I will see -£128K on my bank statement and become a bit blasé about it, and never really pay it off.
Thanks
GW
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