Should I add an overdraft debt to my mortgage? | Money | guardian.co.uk
Q I have unfortunately allowed myself to accrue a £3,000 overdraft, which is costing me about £40 a month in interest. My mortgage is fully flexible and the rate is tracked at no more than 0.99% above the Bank of England base rate for the lifetime of the loan. I have made a number of lump sum overpayments over the years, as well as a regular monthly overpayment of about £300.
Is it a good idea to use some of the overpayment on my mortgage to pay this £3,000 off? My intention would be try to pay back the extra borrowing over the next 12 months or so. Does this make sense from a financial perspective? HF
A Yes, it does make sense financially to increase your mortgage .....
Oxford Homes Direct are estate agents in Oxford. Letting agents,Oxford. House to rent Oxford. Property for sale Oxford. Flats in Oxford for rent. House for sale Oxford. Apartments for rent Oxford. Find houses Oxford. Rooms to rent Oxford. Homes direct in Oxford. Make the right move & find Oxford apartments, estate agents Oxford. www.oxfordhomesdirect.co.uk Oxford estate agents & Oxford letting agent. Rightmove, Oxford. Primelocation, Oxford. Rightmove, Oxford
No comments:
Post a Comment