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Newbie mortgage vs savings?
Isle_of_Wight
Posts: 1 Newbie
Hi everyone,
In recent months I have lost two members of my family leaving me with around £90.000 in inheritance. I have a very small mortgage , around £57.000. £30.000 of my family windfall is now in Premium Bonds, the rest in ISA's and associated bits and bobs.
The monthly repayment on my mortgage is peanuts, around £130.00 (I know it's bloody cheap) but I'm trying to sort in my head whether to pay it off or keep it as a cheap loan for the duration of it's life.
Obviously having cash available can lead to temptation, although I am known as incredibly tight by most... unless I'm in the pub!
All in all I guess I'm very lucky financially, although the loss of family isn't the way I would have wanted it!
So what's the options, any views I would appreciate?
Cheers.
In recent months I have lost two members of my family leaving me with around £90.000 in inheritance. I have a very small mortgage , around £57.000. £30.000 of my family windfall is now in Premium Bonds, the rest in ISA's and associated bits and bobs.
The monthly repayment on my mortgage is peanuts, around £130.00 (I know it's bloody cheap) but I'm trying to sort in my head whether to pay it off or keep it as a cheap loan for the duration of it's life.
Obviously having cash available can lead to temptation, although I am known as incredibly tight by most... unless I'm in the pub!
All in all I guess I'm very lucky financially, although the loss of family isn't the way I would have wanted it!
So what's the options, any views I would appreciate?
Cheers.
0
Comments
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Better return by paying off your mortgage than holding premium bonds........0
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Something is wrong here.. £130 a month on a £57,000 mortgage? Is it over 50 years..0
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