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Payoff or Keep paying ?
Nostromo
Posts: 430 Forumite
I have an offset mortgage with RBS its down to £3500 and i pay £450 a month.I also have £7000 in another account which is used to offset the payments on the mortgage.
Would i be better off leaving as is or pay the mortgage off and put the 7K in a high interest account ?
Would i be better off leaving as is or pay the mortgage off and put the 7K in a high interest account ?
0
Comments
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I suppose it depends on how much you're saving in mortgage interest vs. how much you could earn in savings. What's the mortgage rate? Chances are you can't do much better than c. 2.4% net in a 'high interest account' these days.0
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Its 4.2 % APR.0
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