Smart way to pay off my mortgage?

The_Pops

Hi from a newbie but BIG money saving expert fan.

I am expecting half of my mum's estate, looking to be around £125,000. My mortage has just over £78,000 on it and I want to pay it off.

BUT before I do so, I womdered if there is a smart way to do it rather than just pay the money to the building society. I don't want to buy property and use the rent payments to meet my monthly mtge payment, or similar idaes with shares.

There may not be any smart ways to do this but I would be pleased to hear from anyone with bright ideas. Thanks in advance.

edinburgher

I am sorry for your loss.

I can't really think of a 'smart' way to pay off your mortgage other than paying it off

The main things you may wish to think about:

• What's your current mortgage rate? If you can get higher in savings, you may be better off *not* paying it off (perfectly possible for anyone on a low rate)
• Try and avoid any early repayment charges if applicable
• How are you fixed for retirement? You seem to express a lack of confidence in shares, but it's still how many of us prepare for retirement (investing in funds to provide an income at a later date)