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ADVICE - Mortgage with unlimited overayments PLUS Borrowback ?

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  • Gizmo247
    Gizmo247 Posts: 492 Forumite
    Eighth Anniversary 100 Posts Name Dropper Mortgage-free Glee!
    Senior_Paper_Monitor wrote: »
    Offset on repayment basis (if I've understood you correctly) - lots of them around

    Yep. FD offset is very good. They can switch it between Interest-Only or Repayment mode anytime. You can move money at anytime between the current account and the mortgage account online without further authorisation from FD (apart from OKing a warning dialog that you need to pay it back sometime)

    Only downside is that taking money from the mortgage account will show up as increased borrowing on the mortgage account in the credit agency balances.
    MFiT-T3 #149: {Q4/14} (£46,447)-->(£0) ~ +£46,447=100%
    Mortgage Free: 1st October 2014 :j
  • MallyGirl
    MallyGirl Posts: 7,326 Senior Ambassador
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    NeilB wrote: »
    And currently looks unavailable :(

    it has said 'we are doing staff training so not taking any new applications' for some considerable time now when I log in. Shame as I love it as a way to control my finances and pay off my mortgage early
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
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