I'm looking around for remortgaging deals having finished my "Charcol insipred" Woolwich discounted variable rate. I tend to have a large amount of money (typically about what I spend on the mortgage, so effectively I could double my mortgage spend) after the end of the month, so I was thinking of putting this to good use by overpaying.
Are there any resources which would give me a guide as to whether this is even a good idea or not, compared to sticking it in a high interest account? Naturally this depends on tax etc, I'm a higher rate tax payer.
What would be the benefit of going for a full merged account (or offset, I believe there are differences) over a "normal" account and just overpaying?
The other thing is that I currently have an interest only mortgage, I'd like to continue that style if possible.
I was thinking of doing this research and if necessary using this in preparation for talking to my long standing IFA.
Ta, Dan