Do I invest or pay off some of my mortgage?

Barneysmom

Yes it's me on the SVR, stuck till November I'm afraid. But what to do then, when there are high charges for new mortgages?

That's really I think why I say pay off the mortgage any lump sums, seeing as a mortgage is just another debt.

Aegis

Barneysmom wrote: »

Yes it's me on the SVR, stuck till November I'm afraid. But what to do then, when there are high charges for new mortgages?

That's really I think why I say pay off the mortgage any lump sums, seeing as a mortgage is just another debt.

Depends on the new mortgage. The rates are still not as good as a year ago, but I know for a fact that HSBC is still doing fee-free mortgages and that the fee-free trackers are fully flexible with no early repayment charges or tie-in periods. As such, they're fairly good for anyone stuck on a high rate but also wanting to wait for fixed rates to drop to a more acceptable level.

I realise that I'm only talking about my employer here, but I'm sure there are other fee-free mortgages out there for people who need a lower-than-SVR rate.

Barneysmom

thanks, I know I've got money going down the pan, but stuck for a little while longer.