Just a general question, before battening down the hatches, so to speak....
Given a situation where you have mortgage(s) on the one hand, but savings on the other, and now that mortgage(s) are going up, is it more prudent to use the savings to reduce the mortgage principal, to keep payments smaller, rather than keep them as savings, separately, elsehwhere. IOW, is there a net gain by keeping the deposit.........on deposit, vs simply reducing the borrowings... ?
I see KBC are offering a withdraw-able offset, which I could put the savings into, so maybe that's the best of both worlds ?
Yours, confused...........
Given a situation where you have mortgage(s) on the one hand, but savings on the other, and now that mortgage(s) are going up, is it more prudent to use the savings to reduce the mortgage principal, to keep payments smaller, rather than keep them as savings, separately, elsehwhere. IOW, is there a net gain by keeping the deposit.........on deposit, vs simply reducing the borrowings... ?
I see KBC are offering a withdraw-able offset, which I could put the savings into, so maybe that's the best of both worlds ?
Yours, confused...........