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Do I pay off my mortgage?
garywjack
Posts: 2 Newbie
My endowment policy has just paid out leaving me with £27000. I have £80000 remaining on my current mortgage £30000 being repayment only. I am paying a base mortgage rate of 3.5% - Do I use the 27k to pay off part of my mortgage or do I invest it?
0
Comments
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Nah: Buy a new car/boat/round-the-world-cruise/spend it on a mistress/toy-boy.
Time to live!
Cheers!
Lodger0 -
Mortgage interest rate can and WILL go UP so you are paying 3.5% at the moment.
The endowment was taken out of pay off some of the mortgage was it not.
Pay the £27k off the mortgage and which the rest to repayment so its paid off as quickly as you can afford to.
Mortgage free long before you retire or do you fancy living in poverty in you old age!
GOOD LUCK
Best ISA barclays paying 3.61%
Best regular saver HSBC 8% ( before tax) and
Barclays 6% RS max £250 a month.0
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