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"Savers mortgage" best option?

shg101 · 2010-03-14 21:50:55

I am buying a holiday home for about €140k. I have quite a lot of cash available, but want to stay liquid and it makes more sense to put that money to work elsewhere right now. My tentative plan is to go with a 'savers mortgage' where I only pay interest on the difference between how much I have lodged and how much the…

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14-03-2010 10:50pm

#1

shg101

Registered Users Posts: 155 ✭✭

Join Date: March 2010

Posts: 149

I am buying a holiday home for about €140k. I have quite a lot of cash available, but want to stay liquid and it makes more sense to put that money to work elsewhere right now.

My tentative plan is to go with a 'savers mortgage' where I only pay interest on the difference between how much I have lodged and how much the principal is.

I think only KBC offer such mortgages?

My rationale is that when interest rates rise to a level where it makes sense to reduce my interest bill, I can lodge my spare cash into the savers mortgage account.

Opinions? Other options?

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