We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Should I over pay on mortgage or put money in savings?
hb7
Posts: 1 Newbie
We are on a 35 year fixed rate mortgage, due to renew in 3 years and have some money in savings. Should we overpay on the mortgage or leave the money in a savings account and use it when we come to sell and buy a new home / renew the mortgage on this house?
0
Comments
-
What’s the interest rate on your mortgage and your savings account? If mortgage higher than savings, overpay. If savings higher than mortgage, save it.0
-
Do you have an emergency fund set aside to tide you through difficult financial times?0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards