Pay off or save?!?

JayZed

So, despite the imminent recession, your job is completely secure, you have a guaranteed substantial pay rise coming up, you're only 26 and you already earn the same as me... is your employer hiring?

I don't understand your mortgage payments. As getmore4less says, with a 210K mortgage at 5.89% over 35 years, you should be paying £1182 per month.

coldstreamalways

Well, I worked hard at University and obviously picked the right course!! I know it sounds too good to be true and sometimes I have to pinch myself but that's how it is! I don't want to say exactly what I do because there are only about 150 of us (people in exactly my job) in th UK and I'll be easily identifiable-if you want to ask in pm then that's fine.

I know, the mortgage payments don't add up, every calculator I have used gives repayments of well over £1100 but I'm just doing what Halifax have told me! And saving very hard to make sure I can do what I want when I'm older and not have to worry about making mortgage payments til I'm 117! I will double check the interest rate when I get home.

JayZed

Ah, there's my problem, I didn't work hard at university, and my degree was in English literature!

coldstreamalways

Well, as long as you learnt something at Uni! My student loan is huge! That's a whole new thread though.

abouttimetoo

Hi Coldstream always, jsut wondering whether you managed to work out what you needed to? Have you made any overpaying plans yet?

PS don't know if your user name is indicative of where you live but if so it's a beautiful place - my parents nearly moved there some years ago!