I have a 100k mortgage on a fixed rate (5.9). I've looked at these Current Account/ Flexible mortgages. Is the general idea of having one of these, coupled with every 6 months transferring a balance of about 10k between 0% credit card offers, so that I keep the 10K(hopefully increasing) in my current account and therefore offsetting mortgage interest charges a better deal than what I have now?
Also, what are the best mortages of this type on the market?
Depends. If you think that interest rates will go up, then a fixed rate deal is probably better.
In message , Jonathan Bryce writes
That will depend on what rate it is fixed at, and for how long of course.
They'll go up. The question is by how much.
"Tom Robinson" wrote
.... or they'll go down. Let's see, eh?
It is possible, but very unlikely.
"Jonathan Bryce" wrote
With the new tracked inflation index currently *below* the BoE's target? "Unlikely" - really?
You ned 20 to 30 percent of the mortgage amount in offset savings to make these pay due to their higher rate
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