Move ISAs into Offset Mortage

JUELOO

Hi all,
I have several ISAa about to mature. I currently have an offset mortgage. Is it worth withdrawing the ISAs and losing the tax-free status on that money to save paying interest on the mortgage?

vacheron

Who is the mortgage with?

One reason I originally chose Barclays is because they allow ISAs to be included / transferred in to their offset mortgage.

To be honest though, cash ISAs are in the gutter at the moment and I can't see too much hope of them bouncing back, so unless you can find another ISA after yours mature which will give you extremely good rates I can't see many scenarios where ISAs would be a better deal than offsetting at your mortgage rate.

What is your mortgage rate and what rate are the ISAs currently paying?
What rate will they have after maturity?


Also remember that the cash ISA limit is now £20K per year, so even if you withdraw all your ISAs you can still put £20K straight back in and then another £20K in in April 2018. (making a total of £40K in the next 6 months (or £80K if you have a partner!)