Pay off my mortgage

evilsnowman21

Hello, I. Have recently had an inheritance and want to know should I pay off my mortgage .It is only a little one £10000. I pay £105 per month .Should I pay it off or not
Thanks for any help .

betmunch

Depends on what you plan for the money if you don't use it to pay off the mortgage

R_P_W

evilsnowman21 wrote: »

Hello, I. Have recently had an inheritance and want to know should I pay off my mortgage .It is only a little one £10000. I pay £105 per month .Should I pay it off or not
Thanks for any help .

How do you expect people to advise you with next to no useful information?

ikorodu

You really need to provide more info. Eg interest rate of mortgage, remaining term, any other savings, general financial health, your age and employment status etc.

evilsnowman21

Well that was a lovely introduction to this forum .Thanks have a nice day you lovely person R P W

redpete

evilsnowman21 wrote: »

Well that was a lovely introduction to this forum .Thanks have a nice day you lovely person R P W

It might have seemed a bit harsh but do you have answers to the questions:

Size, interest rate and remaining term on the mortgage;
Size of the inheritance;
What other investments do you have;
Do you have sufficient cash for an emergency fund;
What is your attitude to risk;
Do you have an income, for how much longer do you expect to work?

Maybe just asking yourself these extra questions will help you answer your own original question.