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Savings v mortgage
diceydeb
Posts: 158 Forumite
If my savings interest rate is 2% and mortgage interest rate is 1.98 % is it worth overpaying ? I don't get penalised up to 10 % of balance outstanding?
0
Comments
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As the differential is so low you are better off paying down the mortgage. As the mortgage interest rate is going to rise above your savings rate in due course.0
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For now you could move up to £2500 and earn 5% interest on it. Also you can earn 3% in Tesco current accounts.
Once your current mortgage product comes to an end you will need to re-evaluate.0
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