Overpaying

Dandytf

libf wrote: »

Don't rely on getting 0% forever. Pay off the credit cards.

Excellent advice, spread re payments in a budget..aim to clear the cards...0% enjoy it while it lasts...no guarantee what the future holds.

Dalradian

I have a santander mortgage and the £500 min overpayment on the mortgage is so frustrating. Your priorities should be to clear high interest debt (or soon to be high interest) usually credit cards. Once that overspend is controlled, you will be better placed to start saving.

I know the temptation is to keep a low balance, but the santander 123 account gives better interest than an isa, so worth trying to fill it up to the 20k limit as gives you instant access if something goes wrong, plus interest and cashback on bills which really adds up.
Working out where the next ltv break is on your mortgage is the next trick - work out what you need to save and the date, maybe you will have to juggle some payments so you have enough money to get through some of the ltv breakpoints but will save you £sss.
On top of all this, you should start thinking long term investments ie pension - figure out if you are paying intoma stakeholder pension enough money to give you what you need to retire on.

Good luck