On the Home Straight

pennypincher3562

Hi There

I decided I wanted to pay off my mortgage about 5 years ago, and am nearly there. With only about 6000 left to pay off, I am now on the 'home straight.' This figure includes savings that I plan to make a large overpayment with.

I've managed to save about 18k (for the overpayment), and was wondering is there some type of short term investment I could make with this money in order to speed things up? I really want the mortgage paid off in the next 6 months so I can resume a normal lifestyle again.

The large overpayment cannot be made until April next year, due to mortgage terms and conditions...

Thanks
PennyPincher3562

argomatt

I have been in a similar position, with a lump sum which I can't tie up for too long and don't want to do anything risky with.

I have thought about it and searched for good interest rates but couldn't find anything worthwhile so I invested in the maximum holding of £30000 in premium bonds.

The return isn't great but then again nowhere is at the moment, and there is always the very remote chance of winning that top prize!

pennypincher3562

Thanks, being so close to paying off the mortgage, I can't do anything too risky at moment. I will look into your premium bond suggestion..