what is the best way to pay off a £30000 mortgage with 5 years remaining ie offset or best fixed rate

by , 9 Nov 2012Open Question

i can put £20000 into savings and could inject another £10000 within the first year in this case would an offset mortgage be better for me or a good fixed rate.i dont want to pay off the mortgage with the £20000 savings.

Answers

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If you use offset you will benefit from saving money on the interest equal to the savings in the offset. What is your current interest rate and what rate offset have you found?

by sawiak911, 9 Nov 2012

i am currently on a 2.75% fixed rate which will end in march 2103 the rate on the outstanding balance will be 4% and the outstanding mortgage debt will be approx £29K to £30K

by mcooki, 9 Nov 2012
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