We recently sold our Budapest apartment for 50k approximately. Our mortgage is 42k, we have been offered a Citigold account which will give us 5% interest but we have to leave the money there for a year. We have a tracker mortgage currently 1.85%. My wife is not working and we would need to use savings to meet repayments for the year. In the current economic situation we are tempted to just pay of our mortgage but are also tempted to claw back some of our losses. Any advice would be appreciated.
Pay off mortgage or leave in Budapest account?
- Thread starter PATMAC
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LDFerguson
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Can you just confirm that the tracker mortgage you refer to is on a different property, i.e. not the property in Hungary?
goingforgold
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I think you need to be clearer on your post. If you clear the mortgage on apartment (42K) then are you mortgage free on all properties including your Principal Private Residence?
goingforgold
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Then if I were you I would grab the chance to clear my mortgage and have some savings in the bank...not a bad position to be in 
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.Yes I think so Budapest does not seem to be an option due to the current economic situation. It comes back to this post http://www.askaboutmoney.com/showthread.php?t=101819Then if I were you I would grab the chance to clear my mortgage and have some savings in the bank...not a bad position to be in