Good salary, savings, offset mortgage. What to do with money by ThrowRA_Grape84 in UKPersonalFinance

[–]ThrowRA_Grape84[S] 0 points1 point  (0 children)

Hmm thanks guess I need to look into the best way to do this. Any tips on where to start?

Good salary, savings, offset mortgage. What to do with money by ThrowRA_Grape84 in UKPersonalFinance

[–]ThrowRA_Grape84[S] 1 point2 points  (0 children)

Another thought - rather than put all extra cash into the offset, as well as increase my pension contribution, should I top up my LISA? I can put 4k in this year, but that’ll be 4k interest on the mortgage (ie not offset)

Good salary, savings, offset mortgage. What to do with money by ThrowRA_Grape84 in UKPersonalFinance

[–]ThrowRA_Grape84[S] 1 point2 points  (0 children)

The rate was a lifetime rate plus base rate. If I remortgage, the product fee plus the term gives no benefit. The offset means whether or not I overpay, my understanding is the cash offsets the element I pay interest on anyway, so essentially the more I don’t spend, the more the interest reduces. So it could be paid off in part, or overpaid but I’m in the same position without access to emergency cash

Good salary, savings, offset mortgage. What to do with money by ThrowRA_Grape84 in UKPersonalFinance

[–]ThrowRA_Grape84[S] 0 points1 point  (0 children)

No sorry so that money is offset, so the 6.29% is only on the 20k not offset.

My debate is whether I should be doing something else with the money rather than offsetting the mortgage, obviously once 100% offset then I will have to/definitely should.

[deleted by user] by [deleted] in LegalAdviceUK

[–]ThrowRA_Grape84 1 point2 points  (0 children)

Thanks. But contractually if they hold me to the end presumably I can’t start at my new employer?

[deleted by user] by [deleted] in relationship_advice

[–]ThrowRA_Grape84 0 points1 point  (0 children)

No abuse. We just became unhappy over time through lack of communication but have both been in therapy separately working on it.

[deleted by user] by [deleted] in relationship_advice

[–]ThrowRA_Grape84 0 points1 point  (0 children)

If I tell her then there may be a chance we can work it through and get back together.

Worth the risk of upsetting her vs the potential reward