I am getting close to remortgaging and will need to borrow 226k.
I am looking at the Post Office 5 year fixed at 2.99%.
I have about 20K in cash ISAs with Santander. These currently earn 1.75%.
I also have around 20K in equities and other investments. No idea how much they earn.
I realise that I should keep some cash in saving for emergencies but would it be a good idea to cash in the investments and part of the cash ISAs - around 30K, so that I only have to borrow 196k? I am trying to consider the interest I pay on the mortgage and the interest I will gain from the Cash ISAs and investments.
Many thanks in advance.
I am looking at the Post Office 5 year fixed at 2.99%.
I have about 20K in cash ISAs with Santander. These currently earn 1.75%.
I also have around 20K in equities and other investments. No idea how much they earn.
I realise that I should keep some cash in saving for emergencies but would it be a good idea to cash in the investments and part of the cash ISAs - around 30K, so that I only have to borrow 196k? I am trying to consider the interest I pay on the mortgage and the interest I will gain from the Cash ISAs and investments.
Many thanks in advance.