We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
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!
Pay off Mortgage? Lump in to Pension? Pay for Schooling?
Options

Nelovy74
Posts: 1 Newbie
Sorry If this is the wrong forum Martin.. I am seeking your opinion.
I am fortunate enough to take a Dividend annually + basic of £11000
I have no CC debt, no finance / loans
Mortgage at £109k on a £380k house. 3.16% repayment tied until July 18
42 years old this year.
I have £45000 cash spare now and will have the same next april.
My daughter starts schooling Sept 16 which I can get down to £15641 paying 2 years in advance or £23247 paying 3 years in advance. (also avoiding increases) = 7% and 10% discount.
I need about £20k + basic salary to get me through the year.
Would you pay 3 years of school?
OR 2 years of school and 9k off the mortgage ?
OR 1 year of school (3% discount by DD) and 18k off the mortgage?
Or 1 year school and lump £15k wish into my very small pension pot. ( I do have a property abroad worth £100k equity)
thanks for any comments on this ... regards
I am fortunate enough to take a Dividend annually + basic of £11000
I have no CC debt, no finance / loans
Mortgage at £109k on a £380k house. 3.16% repayment tied until July 18
42 years old this year.
I have £45000 cash spare now and will have the same next april.
My daughter starts schooling Sept 16 which I can get down to £15641 paying 2 years in advance or £23247 paying 3 years in advance. (also avoiding increases) = 7% and 10% discount.
I need about £20k + basic salary to get me through the year.
Would you pay 3 years of school?
OR 2 years of school and 9k off the mortgage ?
OR 1 year of school (3% discount by DD) and 18k off the mortgage?
Or 1 year school and lump £15k wish into my very small pension pot. ( I do have a property abroad worth £100k equity)
thanks for any comments on this ... regards
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards