We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Pay off mortgage or save?
Psyurmh
Posts: 9 Forumite
This may be a stupid question but is it better to pay off capital on my tracker mortgage currently at 1.2% or save with Santander at 3%?
0
Comments
-
It's a no brainer really. If you can a higher rate of interest on your savings than your mortgage is costing then go that route. The general thinking is that base rate is likely to fall so any mortgages linked to it will drop so that makes it even more attractive.
Santander is easy but there are plenty of other higher paying accounts out there but for smaller balances.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards