Hi all,
Simple question. I have a lump some lodged in my first active facility account - the amount is the same as the value outstanding on my Mortgage. Because it is an offset mortgage I don't pay any interest.
However I don't recieve any mortgage interest relief. Would I be better off lodging the money to northern rock thus paying interest on my mortgage but receiving interest from northern rock and getting mortgage interest relief.
Any help with this would be appreciated.
Lored.
Simple question. I have a lump some lodged in my first active facility account - the amount is the same as the value outstanding on my Mortgage. Because it is an offset mortgage I don't pay any interest.
However I don't recieve any mortgage interest relief. Would I be better off lodging the money to northern rock thus paying interest on my mortgage but receiving interest from northern rock and getting mortgage interest relief.
Any help with this would be appreciated.
Lored.