What you have
£11,852.06 across three accounts
Nearly two thirds of it sits in your current account. That's the easiest money to put to work, because it's already there and you can move it today.
| Account | Balance | Monthly |
|---|---|---|
| Current account | £7,589.07 | none set |
| Car savings | £2,162.99 | £150 |
| Stocks & Shares ISA | £2,100.00 | £113 |
| Total | £11,852.06 | £263 |
What you're worth
About £68,366 once the house counts
Net worth is everything you own minus everything you owe. Leave the house out and the mortgage makes it look like −£131,633.98. Put the house back in and the picture flips. The house and pension are guesses until we have your real figures.
What it would sell for today
Starts at £0 so it doesn't flatter the total
You own £56,514 of your house outright. Your loan to value is 72%. Lenders price mortgages in bands, often 60%, 75%, 80%, 85% and 90%, so
Your current account
It could cover about 5.1 months of bills
Money in a current account usually earns little or nothing. Set roughly what your essential bills come to each month, and a savings rate, to see what moving the spare could earn.
Mortgage, bills, food, travel
Check today's best buy tables
Spare above one month of bills
£6,089
Interest a year at 3.5%
£213
Over five years
£1,143
with the interest left in
Your mortgage
£100 a month extra could clear it years sooner
Your rate and term weren't in the chat, so they start as guesses. If the estimated payment below doesn't match your real one, nudge the rate or years until it does. Overpayments here are assumed to shorten the term, with the monthly payment staying the same.
From the current account spare
Estimated monthly payment
£797.54
on the guesses above
Interest saved
£0
Mortgage free
November 2051
That's over the usual limit.
Year by year balances
Your ISA
£113 a month could grow to about £73,000
Your Stocks & Shares ISA has £2,100 in it with £113 going in each month. Everything it earns is tax-free. Shares go down as well as up, so the growth rate is an assumption to play with, never a promise.
You pay £113 now. Try more.
After fees, before inflation
You pay in
£36,000
Growth on top
£37,302
Pot by 2051
£73,302
The numbers every five years
The big question
Overpay the mortgage, or invest?
Same money, two routes. Route A puts your overpayment and any lump sum on the mortgage, then invests the whole monthly payment once the mortgage is gone. Route B invests the same money from day one and pays the mortgage as normal. Both finish mortgage-free in November 2051, so the only difference is the pot left over.
Uses the overpayment and lump sum from the mortgage section and the growth rate from the ISA section.
Route A: overpay first, then invest
£0
Route B: invest from day one
£0
Overpaying earns exactly your mortgage rate, 4.50%, guaranteed and tax-free. Investing inside an ISA is tax-free too, but its growth is a guess. Roughly: if you expect investments to beat your mortgage rate, Route B wins; if not, Route A does. When the two are close, splitting the money between them is a common middle way, and overpaying also lowers your loan to value for the next remortgage.
Your car fund
You'll hit £6,000 around December 2028
£2,162.99 saved so far, with £150 going in each month. Set the car budget you have in mind.
Still to save
£3,837
Time to get there
2 years
Interest along the way
£0
in an easy-access saver
Moves to consider
Seven things you could do next
Roughly in the order most UK money guides put them. The figures move with the sliders above.
Give the current account cash a job
Keep about a month of bills (£1,500) in your current account and move the rest into an easy-access savings account in your name. At 3.5% AER, the other £6,089 would earn about £213 a year. Check first whether your current account already pays interest.
Check your workplace pension match
Look at your payslip or ask HR whether your employer puts in more when you do. Matched money is hard to beat: each extra £1 you add can bring another £1 from them, plus tax relief on yours. It's also the missing piece of your net worth above.
Name your emergency fund
The usual guide is 3 to 6 months of essential bills: £4,500 to £9,000 at £1,500 a month. Keeping it in its own labelled savings account makes it harder to spend by accident.
Put your fixed rate end date in the diary
Most lenders let you lock in a new deal around 6 months before the old one ends. Miss it and you move onto the lender's standard variable rate. If that were 7%, your payment would be about £1,014 a month, roughly £217 more than the £798 estimated now.
Overpay, within your limit
Most fixed deals let you overpay up to 10% of the balance each year with no early repayment charge. On yours that's about £14,349 a year.
Keep feeding the ISA
You're using £1,356 of your £20,000 ISA allowance this tax year. At 5% a year, every extra £50 a month adds roughly £29,000 by 2051. Starting early matters more than starting big.
Make the car fund earn too
Keep it in its own easy-access saver so it never mixes with spending money. At £150 a month you'd reach £6,000 around December 2028.
Make it exact
Six numbers that would sharpen all of this
Send these over and every guess on the page becomes your real figure.
- What your house would sell for todayNet worth uses a £200,000 guess
- Your workplace pension potAnd what your employer matches
- Your mortgage rate and years leftPlus the date your fixed deal ends
- Your actual monthly mortgage paymentTo check the estimate of £797.54
- Your monthly take-home pay and essential billsSets the emergency fund properly
- Whether your accounts pay interestCurrent account and car savings