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Where to keep a chunk of money for 6 months?
dllive
Posts: 1,389 Forumite
Hi,
My mortgage is coming up for renewal in Feb 2020. (Currently paying 2.9%).
I have a chunk of money which Ive got earmarked to pay off some of the mortgage. At the moment its just sat in my current account. Is there anywhere I can put it that will earn me more than 0.001% interest in 6 months?
Or perhaps I would do better putting it in a longer fixed rate account. Althouugh that depends on what rate I can remortgage at. My feeling is that Id be better off paying a chunk off the mortgage.
Thanks
My mortgage is coming up for renewal in Feb 2020. (Currently paying 2.9%).
I have a chunk of money which Ive got earmarked to pay off some of the mortgage. At the moment its just sat in my current account. Is there anywhere I can put it that will earn me more than 0.001% interest in 6 months?
Or perhaps I would do better putting it in a longer fixed rate account. Althouugh that depends on what rate I can remortgage at. My feeling is that Id be better off paying a chunk off the mortgage.
Thanks
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Comments
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Mortgage started 2020, aiming to clear 31/12/2029.0
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Marcus is the best easy access account at 1.5%
Masthaven bank do 6 month fixed term accounts at 1.73%
But if you can overpay without penalty fees before you renew, probably best do that0 -
Masthaven bank do 6 month fixed term accounts at 1.73%
Never heard of Masthaven before so after seeing your 6 month fixed term at 1.73% decided to have a look at them but there is no 6 month fixed term on their website. 1 year is the shortest period @ 1.80%"Look after your pennies and your pounds will look after themselves"0 -
typistretired wrote: »Never heard of Masthaven before so after seeing your 6 month fixed term at 1.73% decided to have a look at them but there is no 6 month fixed term on their website. 1 year is the shortest period @ 1.80%
Further down theres a time scroller thing where you can set your own term
Ive got a 57 month one with them for same reasons that it coincides with my mortgage deal ending0 -
They are having problems with their website at the moment so couldn't apply but thanks for the heads-up!"Look after your pennies and your pounds will look after themselves"0
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Further down theres a time scroller thing where you can set your own term
Ive got a 57 month one with them for same reasons that it coincides with my mortgage deal endingtypistretired wrote: »They are having problems with their website at the moment so couldn't apply but thanks for the heads-up!
working ok on Google Chrome0 -
Have finally managed to open an account. Quite happy at rate for 6 months."Look after your pennies and your pounds will look after themselves"0
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Wow - thanks guys. This forum is awesome!0
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Oaknorth have a 6 months one too but seem to have a problem with deposit coming from a joint account."Look after your pennies and your pounds will look after themselves"0
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