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Barclays offset, overdraft amount
boatman
Posts: 4,702 Forumite
I have a few thousand in my offset account and the overdraft figure is over double that. Can i take out that overdraft amount listed on my account and pay my normal mortgage interest rate or do i pay a higher rate once the account goes below zero? The mortgage was taken out about 8 years ago.
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Comments
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all accounts pool an you pay interest at the mortgage rate on the amount owing.
note that the normal payment will not cover the excess borrowing so you need to have a plan to pay it back.0
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