2nd mortgage / where to save

plamenivanov

Hi All,

I hope I have posted this in the right location.

My question:
I have the opportunity to save up to £1200 every month, which I intend to put towards a buy to let mortgage (eventually) probably in 2-3 years time as the sum builds.
I have opted out of an offset mortgage on my current deal due to the high product fee that it came with, so now I need to know where would be best to put my money.
- I have been advised to put this into an ISA, however I understand that there is a £5.6k cap to this which would be filled in 5-6 months?
- Is a regular saver the way to go, even though there the highest interest rate I've seen is 2.5%?
- I'm not interested in high risk investments, just want a decent return with least hassle!

Many thanks for your time.

Thrugelmir

plamenivanov wrote: »

- I'm not interested in high risk investments, just want a decent return with least hassle!

A decent return requires an element of risk.

A BTL is a business not an investment. So carries a high degree of risk and potential hassle.

Personally I would spread money around different asset classes. Much could change in the next 2 years. So planning now on making an investment requires a crystal ball.