Mortage V Pension

starkj

Should people only consider overpaying a mortgage if they can pay a decent amount in to a pension. Where should the priority lie?

I know this will depend on individual circumstances. I am approaching 42. Should I pay more into a pension now to take best advantage of possible growth or go more towards the mortgage where returns are easir to calculate.

Tricky stuff.

Thefunkygibbons

This will depend on your own circumstances

What pension do you have now? Employee or personal pension?

bockster

thats a great point, for me it's the mortgage free route, mainly for the glory of it, then i will be straight onto boosting the pension or long term savings with what would have been the mortgage premium. i know earliest is best with pensions, but i reckon i'm only 1 - 2 years away from mortgage free day, i'll stomach that!

Hawksmuir

In my circumstances I am paying more off the mortgage so by pension time its gone.
I also have issues with great pensions v free health care for the elderly, if I have a great pension I then have to pay for my health care , if I don't it's free

starkj

I have a personal pension where I pay roughly 10% of salary.

I have a mortgage of £33,000 which I over pay by £50.

This seems a reasonable balance but once I have cleared other commitments I would like to pay more into one or the other.