The One Account?

Desperate_Housewife_2-2

wymondham wrote: »

I'm not convinced you'll get far as the Government protects banks!

I'm not supporting prescott, just wanted to bring peoples attention to this vote!

dave_wolves

Just wanted to resurrect this post as the information in it is superb and is seriously turning me towards the oneaccount. We currently owe £122k with 19 years remaining and pay a £782 mortgage payment per month. We also save roughly £900 a month in a separate savings account. Am I right in saying that the money we have left 'spare' is £647 plus £900 each month - totalling £1,547? Therefore, and if for arguments sake, oneaccount wanted £250 per month in interest, then £1,297 would come off the mortgage balance every month (£1,547 minus £250)? If this is correct then it's a no-brainer as far as I'm concerned, I'm in!!

Thanks to the brainy bods who have set people straight on this issue, some brilliant information here!! :beer:

dave_wolves

sorry, the money left spare should be £782 plus £900 each month totalling £1,682 (less the hyperthetical £250 interest would be £1,432).....getting too excited!!