Where to put £500 a month until Sep 2021

Terry_Towelling

edgex wrote: »

Maybe overpaying on this, if you're not already;
"Mortgage 2: £144,033.52/£148,500.00 (Mar 2019) (2.14%) until Aug 2019"

principlecounts wrote: »

This is already being serviced. Thanks anyway.

I notice the rate of 2.14% is only until Aug 2019 (i.e. now). Is the rate changing to something more or less? I see you are already servicing it but overpaying it will save you whatever the rate is for the life of the mortgage.

Obviously, though, if you have a purpose for the saved cash in 2021, then you will need the cash, so overpaying the mortgage isn't an option. If you don't want the hassle of DDrs and opening current accounts and are prepared to sacrifice a bit of accessibility, you could do worse than a notice account. Paragon do a 120-day notice account paying 1.8%. A few others will pay the same for only 90 days notice.

You are unlikely to come near to inflation with anything other than overpaying the mortgage and regular savers but then the general level of inflation may not be relevant if the purpose of your savings is for something that 'inflates' (or 'deflates') at a rate peculiar to its own market.

However you look at it, Marcus (with it's underlying rate being variable anyway) doesn't fit your original brief of exceeding 1.69%

Zero_Sum

principlecounts wrote: »

Most of these accounts require direct debits attached. I'm looking for ones that don't have those sorts of requirements. Marcus seems convenient.

Marcus is a good account.
But you did say is must pay more than 1.69%.
And the only way you'll get that is if you do a bit of work with multiple accounts