Hi all
Looking for some advice, maybe someone with a mathematical mind!!
I am adding an extension to my house at a cost of £21000. I have £15000 in cash and £6000 in shares which could be used, but would really be using all my savings. I could get a further advance on my mortage at a rate of 2.64% over 2 years as that is all i have left on my term.
I have a savings account which pays 2.8% and another which allows me to pay £250 per month at a rate of 6%. What I would like to know is it worth keeping my money in these accounts and drip feeding it into a further advance on my mortgage or would the interest I make be negligible. Hope someone can help. thanks
Looking for some advice, maybe someone with a mathematical mind!!
I am adding an extension to my house at a cost of £21000. I have £15000 in cash and £6000 in shares which could be used, but would really be using all my savings. I could get a further advance on my mortage at a rate of 2.64% over 2 years as that is all i have left on my term.
I have a savings account which pays 2.8% and another which allows me to pay £250 per month at a rate of 6%. What I would like to know is it worth keeping my money in these accounts and drip feeding it into a further advance on my mortgage or would the interest I make be negligible. Hope someone can help. thanks