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Mortgage advice

(2 Posts)
angelican Sat 11-Aug-18 10:16:40

We are in the very fortunate position of being able to pay off our mortgage 15 years early. However, linked to mortgage we also have a mortgage bank account which gives us access to cash at the same rate of interest as our mortgage. We have a lifetime tracker which tracks .5% below the base rate so for the last few years this has been great but we are aware that this could change soon!!

If we pay off 90% of the mortgage we won't have access to this account. Would it be best to pay off a chunk, then pay a nominal amount just to keep access to this account, or to pay it all off? We will have access to other savings/investments as well as our regular income.

Ta1kinpeace Sat 11-Aug-18 16:29:05

I have a SAntander 123 account that pays 1.5% interest plus cashback of up to 3% on bills

clearing your mortgage and putting funds into savings and pensions sounds like a better bet to me

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