We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!

Savings to pay mortgage

Options
shane2010
shane2010 Posts: 2 Newbie
in Mortgages & endowments
Hi i have some savings i could pay half my mortage off with this but have no savings left what to do help would be appreciated thanks

Comments

  • jellyfish76
    jellyfish76 Posts: 81 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I'd leave 6 months "survival" money in an easy access account/ NISA/etc rather than put it all onto a mortgage. I'd use a portion of my savings for the mortgage.
  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Not sure how big a savings pot you have but I would use anything over £16,000 to reduce the mortgage.
    £16K is a good savings pot ( emergency pot) and if you have more than that and lose your job you cannot claim benefits !
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture