Overpay mortgage or do something else?? Confused

MrHelpful

Advice needed. I have two residential mortgages (as work away during the week) on a 50% LTV - 1.49% + Base Rate Tracker. I don't think I can get any better on the rate.


I have some cash saved (earning !!!!!! all interest) and I am now thinking should I use this to overpay mortgage or should I look to be a bit more riskier and buy a BTL.. or invest in funds ... before people suggest holiday / rainy day - I have a separate kitty for that already. Also I have maxed my ISA... advice please.


I want to be mortgage free however at same time want to leverage my money and make the most of it. I am in my early thirties so still have a bit of time to work!

anselld

1.49 + Base = 1.99 for the time being.
You should be able to get 3% gross or more ( = 2.4% net unless you pay high rate tax). e.g. Santender 123, Lloyds Vantage, TSB Enhance, BOS Classic etc.
So with a bit of effort to find the right interest rate you can save at a higher net rate than your mortgage for the time being.