what to do with spare cash

fizzysweets

my husband and i are in the progress of moving to my husbands work (a hotel) after he was promoted this means we will be living mortgage free for the next two years as we are renting our house out. After working out our finances we have £1200 a month spare cash after paying all our out goings and would like to be able to make as much money from this as posisble so my husband will be able to leave his job which he does'nt particually like to something diferent. Anyway could someone give us some idea of where and what we could do with the money my husband is all up for an offset mortgage as using the online calculators of various sites it has said we could clear our mortgage in 6 yeras (has 21 years to go at the mo) but is it really that straight forward or would we be better putting the money in an isa or savings account with high interest rate. Our mortgage is coming to an end in september after being fixed for 2 years at 4.25%. We will need to get a new one sorted before our house is rented in september is it worth going for a mortgage to let or can we have a standard fixed mortgage or a offset.

grumbler

Offset mortgage makes sence only for very big amount of savings. I think, it is better to look for another deal for mortgage and use money for savings. If bouth of you are tax-payers (or will be in the future), first of all you must fill your 2x£3000 cash ISA yearly allowance.

'SAVINGS' section

'The Savings Fountain' in the 'Starting Saving ' article...