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To OP or not to OP

Hi wise ones,
so, i was overpaying my old mortgage but that was a no brainer as it was at 5.19% fixed for 2yrs but the new one is only 1.39% for 2yrs. I have a number of different accounts i currently move money around that pay between 1.5% and 5%. I haven't overpaid at all this year as i figured it was best to save and then pay off a big lump at the end of the deal with the savings but now i'm not so sure.
What do you all think?


  • louloubelle79louloubelle79 Forumite
    411 Posts
    100 Posts
    Good point ...I guess to save in higher interest would be more beneficial then pay lump sum each year maybe? I'm a MFW newbie so others may have more accurate advice.
  • Pay off the debt sitting in the account/mortgage with the highest % Or the savings with the highest %..whatever is larger.
    Pretty straight forward as a general rule of thumb.

    Just check the savings don't come with some clause that the money has to be kept in there or is locked in there for a time period that may not suit your aims.
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