Offset Mortgage

Hobo_2

Hi again,
BlueScoob60

When you get near 100% offset just transfer cash ISA money out to another provider, where it will earn interest tax free.
say £30K ISA transfer out, so your matured policy funds can be used now to offset mtg instead, as an example.
Why any need to" Pay Off" mtg ,as Silvercar says once 100% offset(balanced) you can drip feed out ISA monies, do this over full term, Great flexibility+ tax efficient.

whu
Yes , as you have a decent mtg interest rate anyway ,anything offset is a bonus

surreysaver

BlueScoob60 wrote: »

I'm going to cash in £30,000 of premium bonds, which whilst fun to look up on the 1st of each month...

They don't do the draw until the 3rd!

BlueScoob60

surreysaver wrote: »

They don't do the draw until the 3rd!

The premium bond draw is done on the 1st of each month. The results of the high value winners (anything above £5,000) is visible that day on the National Savings & Investments website. For anyone winning less than that, the results won't be available until a couple of days after.

You won't see any results if you enter your premium bond holder's number, but you can check the high value prizes on the 1st of each month. The winning bond numbers are displayed - and you can check whether you hold any of those winning bond numbers.

:beer:

Hobo:
That's a good idea. Get the ISA funds back to earning some tax free interest, and swap out with the policy matured funds.
I guess I'll have to see what life's doing at the time too - it will be around that sort of time that my first-born will be going off to high school. With the mortgage paid off, we could send him to a good private school with the funds........still, a few years to go until we cross that bridge.

Thanks for you advice.

surreysaver

Sorry. The website says it is updated by the third working day of each month, so although the draw might be done on the 1st day, you won't know until the third.

BlueScoob60

surreysaver wrote: »

Sorry. The website says it is updated by the third working day of each month, so although the draw might be done on the 1st day, you won't know until the third.

As I said, that's just if you want to enter your bond number and have the system tell you if you've won or not.
Try it on the 1st of June - you won't get any results by entering your bond number, but if you leave the bond holder field blank and hit "Go", there will be a link to the "High Value Winners and Winning Bond Numbers" page.

http://www.nsandi.com/products/pb/winnerlist.jsp
Here's a link to this month's page so you can see what I'm banging on about.