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Should we pay off our Mortgage?
AmandaC75
Posts: 1 Newbie
Hi, we need some advice as to whether we should pay off our Mortgage in full? We are due to inherit around £170k from my late father in laws estate within the next couple of weeks. We currently have just under £120k outstanding on our mortgage (we are out of a fixed term so won't incur any early repayment fees). We have no outstanding debt whatsoever on credit cards etc. It has been mentioned to us that it can be beneficial to keep some money on your mortgage but we would like to be mortgage free.
Many thanks in advance
Many thanks in advance
0
Comments
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If you would like to be mortgage free then i suggest you write a cheque and crack open the champagne!
(my only proviso is that you are not carrying masses of other more expensive debt!)£1000 Emergency fund No90 £1000/1000
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
!0 -
Nobody here can advise you without knowing a lot more about your personal circumstances. It sounds like you need to talk to an IFA.0
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Get that cheque sent off and have a bloody nice holiday!0
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