{"id":140182,"date":"2023-11-06T14:00:30","date_gmt":"2023-11-06T07:00:30","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-my-bonus-go-on-overpaying-the-mortgage-or-into-a-high-interest-savings-account\/"},"modified":"2023-11-06T14:25:49","modified_gmt":"2023-11-06T07:25:49","slug":"should-my-bonus-go-on-overpaying-the-mortgage-or-into-a-high-interest-savings-account","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-my-bonus-go-on-overpaying-the-mortgage-or-into-a-high-interest-savings-account\/","title":{"rendered":"Should my bonus go on overpaying the mortgage or into a high-interest savings account?"},"content":{"rendered":"


\nFixed-rate part of deal ends in August and I\u2019m worried about interest rate risesDon\u2019t get caught out by tax on cash interest, UK savers toldQ Our mortgage is split into two parts, as we ported a section of our original mortgage when we moved in 2021. The 2.5% fixed-rate part of the mortgage (on a balance of approximately \u00a3210,000) is coming to an end next August.I\u2019m incredibly worried about the possible interest rate rise when we have to renew. We have already absorbed a \u00a3300 hit when we renewed the other part of the mortgage last year, and I\u2019m not sure how we would cope if our bill rose by the same again \u2013 but looking at the current rates, that may well be what we\u2019re faced with. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Should my bonus go on overpaying the mortgage or into a high-interest savings account?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fixed-rate part of deal ends in August and I\u2019m worried about interest rate risesDon\u2019t get...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-140182","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-At0","jetpack-related-posts":[{"id":139874,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-have-10000-left-after-a-house-move-should-we-save-it-or-overpay-the-mortgage\/","url_meta":{"origin":140182,"position":0},"title":"We have \u00a310,000 left after a house move \u2013 should we save it or overpay the mortgage?","date":"October 16, 2023","format":false,"excerpt":"\r I think overpaying our loan won\u2019t affect our monthly repayment as we\u2019re on a two-year trackerQ After a recent house move we have about \u00a310,000 in savings left over. We\u2019re now on a two-year tracker mortgage while we navigate the uncertain economic times and rates.My question is: would it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":132230,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-our-savings-go-towards-the-help-to-buy-loan-or-overpaying-a-new-mortgage\/","url_meta":{"origin":140182,"position":1},"title":"Should our savings go towards the help-to-buy loan or overpaying a new mortgage?","date":"December 5, 2022","format":false,"excerpt":"\r Our five-year fixed-rate deal ends soon, we have saved \u00a3100,000 and need the best remortgage strategyQ My husband and I purchased a property in May 2018 for \u00a3600,000 using the London help-to-buy scheme. We took out the maximum help-to-buy loan of \u00a3240,000 and put in a \u00a330,000 deposit. At\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26145,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-overpaying-a-mortgage-preferable-to-saving\/","url_meta":{"origin":140182,"position":2},"title":"Is overpaying a mortgage preferable to saving?","date":"May 29, 2013","format":false,"excerpt":"\r We could overpay our mortgages by \u00a3500 a month, but we wonder whether saving the money might be preferableQ My wife and I have two mortgages with our lender and we reckon we can afford to overpay them by up to \u00a3500 a month. The larger mortgage is on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138357,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/in-the-balance-with-rates-rising-is-overpaying-your-mortgage-a-good-move\/","url_meta":{"origin":140182,"position":3},"title":"In the balance: with rates rising, is overpaying your mortgage a good move?","date":"July 17, 2023","format":false,"excerpt":"\r Homeowners are desperate to find ways to reduce the bill they face each month, but should any spare cash be put into the home loan, or a savings account? We weigh up the argumentsRising interest rates have pushed mortgage overpayments to their highest levels in more than 20 years\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131122,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-overpay-the-mortgage-and-borrow-money-for-house-renovations\/","url_meta":{"origin":140182,"position":4},"title":"Should we overpay the mortgage and borrow money for house renovations?","date":"October 24, 2022","format":false,"excerpt":"\r The work would cost \u00a325,000 and we can afford to save about \u00a3500 a month towards itQ We currently have a mortgage of \u00a3122,000 and need to complete some home renovations costing \u00a325,000. We can afford to save about \u00a3500 a month to put towards the house renovations but\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138674,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-overpay-my-mortgage-monthly-or-with-a-lump-sum-at-the-end-of-each-year\/","url_meta":{"origin":140182,"position":5},"title":"Should I overpay my mortgage monthly or with a lump sum at the end of each year?","date":"August 7, 2023","format":false,"excerpt":"\r I have a five-year fixed-rate deal, just missed the rising interest rates and want to plan for an uncertain futureQ I took a five-year fixed-rate mortgage last summer and was lucky enough to just miss the rising interest rates. 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