Mr Coulson went on to highlight another option.
He commented: “The second situation is one to consider for those who have a lot of savings sitting in a cash savings bank account. With savings rates at rock bottom a better use of the cash could be to use it to pay off some of your mortgage.
Mortgage UK: Some may look to reduce their mortgage term (Image: GETTY / EXPRESS)
READ MORE This can be done using an offset mortgage which will utilise the cash in your bank by off-setting the savings against the balance owed on your mortgage, thus reducing the mortgage term.
Metro Bank, Nationwide and Barclays have all dropped the interest rates on their 10 per cent deposit mortgages, which are popular with first-time buyers - but rates are still higher than pre-pandemic
2021-01-18T13:12:00+00:00
As part of
Property Week’s annual preview feature we asked some of the industry’s leading lights to list their personal and/or professional resolutions for the new year. This is what they said…
Source: Shutterstock/ Rembolle
Head of UK, CC Land
On a personal level, my 2021 resolution is to continue to serve our occupiers and move towards our aspiration of becoming a first-class custodian, giving our communities the environment to attract best in class talent. Furthermore, to help our mixed-use developments at Whiteley’s and Nine Elms take shape and see further progress in 2021.
Lynda Shillaw