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Just Checking!!!
mollycat
Posts: 1,475 Forumite
Hi All,
Just about to use some money we inherited (£30K) to pay off our mortgage.
Just wanted to check that the financial meltdown we are experiencing this week, (and ?? for weeks to come), in no way makes this anything other than the absolute right thing to do, ie: would it be better to hold on to this money just now?
Thanks in advance.
Just about to use some money we inherited (£30K) to pay off our mortgage.
Just wanted to check that the financial meltdown we are experiencing this week, (and ?? for weeks to come), in no way makes this anything other than the absolute right thing to do, ie: would it be better to hold on to this money just now?
Thanks in advance.
0
Comments
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I would have thought that the very best situation to be in at this point in time is to be Mortgage free. You might be advised to stash the cash that would otherwise have gone to your mortgage payments off in an ISA if you've not already used your entitlement though, particularly if you've not already got your emergency fund in place? No mortgage will give you one less thing to worry about though so good on you!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
you wont regret paying off your mortgage, it is the most fantastic feeling in the world when you hand the cheque over and you realise that you are the outright owner of your house.make the most of it, we are only here for the weekend.
and we will never, ever return.0
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