Saving money for moving costs or overpay mortgage?

[Hisashiburi]

Hi there,

I've been wondering what the best thing to do is.

We basically want to move in the next 6 months and will have 5k spare in the next 2 months. I was wondering whether it would be better to keep this in an instant access saving account ready for moving costs or overpay the mortgage and take out equity for moving costs when we actually move?

Moving costs, including stamp duty will be more than the 5k.

What do you think?

Bump!

High interest account? Save your money. You don't know what your house will sell for and you'll loose some in interest over paying?

Keep it in a bank account unless you already have sufficient cash for pre-completion costs like survey, search fees, removals and topping up the deposit you get from your buyer and enough to cover the unexpected.

Keep it for moving costs

Keep it for moving.

Thanks all. We are going to keep what we have to out towards stamp duty/moving costs etc.