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Mortgage v savings

Last post Tue, Jan 06 2009, 10:43 PM by maxsteam. 1 replies.
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  •  Tue, Jan 06 2009, 10:43 PM

    Re: Mortgage v savings

    The interest on the mortgage is likely to be more than you would get from a normal savings account so, unless you know of a horse that is certain to win at the weekend, you will probably be slightly better off by paying extra off the mortgage.
    • Post Points: 5
  •  Tue, Jan 06 2009, 9:16 PM

    Mortgage v savings

    I have a mortgage of approx £22000 outstanding I am at present paying £200 per month over the mortgage payment( £750 instead of £550 ) However the mortgage company have told me the mortgage would finnish approx 11 months early would I be better off saving the £200 per month elsewhere and if so what kind of account would be best? many thanks Pammi
    • Post Points: 20