We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Save it or pay off the mortgage?
fireuptheband
Posts: 173 Forumite
We're tied into a 2 year deal at 4.9% (14 months left) at the moment, but can overpay at 1% of the overpayment.
I'm trying to save as much as possible at the moment (ISA's, shares, premium bonds) and have about £25,000 scattered about.
I'm trying to work whether it would it be beneficial to pay the £10K off the mortgage and 'save' money on the interest we would've paid rather than 'earn' interest on the savings.
Does that make sense? Any help greatly appreciated.
I'm trying to save as much as possible at the moment (ISA's, shares, premium bonds) and have about £25,000 scattered about.
I'm trying to work whether it would it be beneficial to pay the £10K off the mortgage and 'save' money on the interest we would've paid rather than 'earn' interest on the savings.
Does that make sense? Any help greatly appreciated.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.5K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards