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£30k Mortgage on Part Buy - Do I overpay or save to move
mattcafc
Posts: 64 Forumite
This is my situation.
I bought 25% of a part buy part rent flat 6 years ago (When i didn't earn much money and thought it was a great idea!!)
I have 30k left on the mortgage which has an interest rate of 1.99%
I now want to move to a house costing around 300k.
I have at least 1k surplus a month to save. In my situation what is best for looking to move in a few years time. Do I over pay my mortgage at 1k a month, or do I save it in an ISA?
Will having most of my mortgage paid off, give the same benefit of having 25k in the bank in 2 years time?
I bought 25% of a part buy part rent flat 6 years ago (When i didn't earn much money and thought it was a great idea!!)
I have 30k left on the mortgage which has an interest rate of 1.99%
I now want to move to a house costing around 300k.
I have at least 1k surplus a month to save. In my situation what is best for looking to move in a few years time. Do I over pay my mortgage at 1k a month, or do I save it in an ISA?
Will having most of my mortgage paid off, give the same benefit of having 25k in the bank in 2 years time?
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