Paying of my mortgage early

Emmzi

Why don't you get a new cheap term life assurance policy?

fez_2

My thoughts:-

If you pay off the mortgage, approx £1103 in interest saved if calculated daily
Cost saving paid into decent cash ISA paying 5% would earn you £1374 over 3 years and of course you would have the capital you built up, i.e. £300 x 36 months
TOTAL BENEFIT £2477

If you dont pay off the mortgage your £10k (if held in decent cash ISA might pay 5% interest, n.b.you've £3k allowance each per tax year)
compounded over 3 years would give you £1576 interest (£1248 if tax paid)
You still have the option to pay off the mortgage at any time.
TOTAL BENEFIT between £1248 and £1576