Quote Originally Posted by goats View Post
Isn’t interest on all those accounts only £60 a month or so at roughly 4% on £1500? £700 a year? The kids ones offer decent rates but most have a limit so hardly worth it is it? Hopefully, the stocks will plummet soon, I can’t work out why they haven’t already due to Brexit and general world shiiite, then invest in them....
It is money I used to put against the mortgage. As long as I'm getting at least my mortgage interest rate on my savings then it's a no-cost option. I am n o worse off for saving it and I can always lump it against the mortgage if rates drop further, but it's nice to have it in cash in the meantime. Agree as a pure rate arbitrage it's not worth it and it's administratively simple, just a bunch of standing orders from my main current account. I see it more as cost-free option for the cash rather than locking it up in mortgage repayments.