Paying off mortgage

patrikmac

My house is worth 110-115k and I have 68k left on my mortgage at 3.29% rate, I have 130k divided into 2 interest accounts which the rate has recently dropped below 1%, would I be better paying off my mortgage first then looking to reinvest what's left in a new account or keep paying the mortgage and finding somewhere better for the 130k.

Thrugelmir

There are some options for obtaining a reasonable rate of interest. The savings and investment board is the place for that. Though £68k is most likely not possible to cover. Paying down the mortgage might well be the better option. Then make plans on the best way forward for the remainder of the money along with with the money you'll then save by having no mortgage to pay.