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Mortgage v saving
mitral66
Posts: 1 Newbie
I'm a virgin poster so be gentle! I have a question I'd like feedback on. I'm in a very fortunate position that when I took my mortgage out some 14 years ago I had a fantastic deal. I have one of the most flexible mortgages around, I have a cheque book on the mortgage, can draw down as much as I like up to a pre -set limit and overpay as much or as little as I like with no penalty. Also, my interest rate is only 1% over base so at the mo I'm only paying 1.5%. So my question is, does it make sense to draw down some of the mortgage and put it into ISA's. Theoretically, I am earning twice as much interest as I pay - just would like to hear some thoughts before I decide what to do.:o
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Comments
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I guess you could make about £80 a year doing that, better than a haddock down your trousers.Space available for rent0
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Very funny peeler ;-)0
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