Best saving acc 4 overpayments!

sarmia

Hi,

I am currently doing the MFIT challenge to reduce my mortgage by a further £7k and after reading several posts I be;ieve it might b wiser to put my OPs in a savings account.

My mortgage started in April 06 on repayment on £120k with a 5 yr fixed rate of 4.99%. This is with the C&G and is £700.81 a month. I am allowed to over pay £500 per month without charge (which is no chance).

Our ISAs are maxed out can anyone suggest a good account or whether 2 just over pay.

Comments appreciated!

S x

jackomdj

Alliance & Leicester are doing a 12% savings account. You can only put a max of £250 per month for one year. To be able to do this you have to have a current account & deposit a minimum of £500 per month (we are putting in £500, tfr £250 t savings & tfr £250 back to our offset account!). At the moment if you are reccomended for this account (see the referals board) you each get £40 & people on the referals board will give you back £30 of the £40 they get! In addition to this A&L will give you an interest free overdraft on the current account (I am tfr all of this to my offset so it is a win win situation for me!)

Nicky

christhesparky_2

Scarborough building society have a regular savings account paying 6.55%

you can put up to £250 per month into this