Redundancy - pay off the mortgage or not

kidmugsy

jaybeetoo wrote: »

If your mortgage lender went bust the savings would be offset against the loan even if the savings were greater than £85k.

Do you have a link for that? I'd be lothe to assume it without evidence.

Camdoon

Cannot link to another site but Google is your friend.

Let_Us_See

If ever I have seen a case right for an offset mortgage then this is it. Reduces your mortgage to next to nothing whilst you adjust to your wife's redundancy and provides time to plan for future with no need for a knee jerk reaction or losing control of your capital.

kidmugsy

Camdoon wrote: »

Cannot link to another site but Google is your friend.

Indeed it is. Here's a piece from about a year ago.

http://moneyfacts.co.uk/tips/mortgages/offset-mortgage120411/