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Pay off mortgage or invest???
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Gear_Down
Posts: 3 Newbie
Hi all
Having read through a number of posts here I feel it's time to put my question forward..
Following my fathers death in October I will be receiving part of his estate with the rest going to my mother.
The question is we have recently moved - August - and have a mortgage with HBOS. Should the money be ploughed into the mortgage or invested..??
Any advice would be appreciated...
Having read through a number of posts here I feel it's time to put my question forward..
Following my fathers death in October I will be receiving part of his estate with the rest going to my mother.
The question is we have recently moved - August - and have a mortgage with HBOS. Should the money be ploughed into the mortgage or invested..??
Any advice would be appreciated...
0
Comments
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Any interest earned on the investment will be taxed. The interest saved on paying off the mortgage is not taxed. I'd get rid of the mortgage if I were you!0
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Depends what you want.
For an easy life, just pay it off and relax.
There would be nothing to prevent you from re-mortgaging you house if you felt that you needed the cash back for any given purpose in the future and you may even get a better rate than you have at the mo."Unhappiness is not knowing what we want, and killing ourselves to get it."Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))Women and cats will do as they please, and men and dogs should relax and get used to the idea.0 -
Have a look at craigo's recent thread "Overpay or save?"
lizzyb"Life is not about waiting for the storm to pass...it's about learning how to dance in the rain." ~ Vivian Greene0 -
Pay down the mortgage leaving a little bit on it just in case you want to remortgage at some future date.FREEDOM IS NOT FREE0
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