Hi

It is all depends on interest rate that your mortgate is on. For example if your mortgate interest rate is 4.99% and Isa interest rate is 4.00% you are better off to pay off your mortggage. Rather then Isa.

hope it helps

Hi

Myself and my wife are due to remortgage in approximately 12 months. I know this is quite a distance away however we are also saving a deposit for a new house and are trying to work out the best way to do this.

We currently only pay £415 for our mortgage and save £500 per month for our deposit. Having recently spoken to our Mortgage provider (Halifax) I have been informed we can "over-pay" up to £7500 this year to build equity in the house.

My question is...are we better saving £500 per month in our ISA or increasing the amount of mortgage we pay each month to build equity in the house?

For info we have around £5000 in savings and approximately £1000 equity.

Thanks.