I am approaching the end of a 2 year fixed rate tie in on a house we moved into almost 2 years ago. Clearly an opportunity to review or change mortage as the rate I fixed then is not that great now against dropping interest rates. Ive looked at various comparison sites and frankly the range of differnet products is bewildering.

I have currently a lump sum of money in what was a reasonably high interest savings account (rainy day money), but the interest on this account has dwindled to an amount now that its almost not worth having it in there for the interest Im getting. I dont want to 'spend' this money by reducing my mortgage, so I am attracted to a One Account type deal, where I can sit my savings in the same account as my mortgage borrowing, thus offsetting and reducing my mortgage interest without actually spending this bit of cahs/capital I have. Using the calculators for these products, it seems an attractive option in this sceanrio, since currently Im gaining no worthwhile interest having it in a savings account, so perhaps its bettwe utilised helping reduce my mortgage. In my scenario would this be a sensible approach over going for a normal mortage product (fixed, tracker, capped etc.) ?

THanks in advance