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Should I pay off my mortgage?
Options
allyli
Posts: 6 Forumite
I have recently received a sum of 100k and my mortgage is around 100k, i'm thinking of a few options -
1. Pay off the mortgage.
2. Take out an offset mortgage for 100k and stick my 100k into a saving account and use the interest to pay off the mortgage.
What do you think?
Thanks
Al
1. Pay off the mortgage.
2. Take out an offset mortgage for 100k and stick my 100k into a saving account and use the interest to pay off the mortgage.
What do you think?
Thanks
Al
0
Comments
-
Whats the rate on your mortgage?In an Acapulco hotel:
The manager has personally passed all the water served here.:rotfl:0 -
My sincere advice is you pay your mortgage right away....
or atleast pay as much as you can....if u cant use the whole 100k.
All the best0 -
If the mortgage interest and the interest on savign were pretty much the same I would pay 80k off the mortgage and keep 20k in reserve for emergancies!Only two big facts are known for certain: you are on a large, spinning rock hurtling through lonely space at about 67,000 mph, and one day your body is going to die. Will a new pair of shoes really help?
Weight at lightbulb moment 13 7lb
goal for Christmas 12 7lb! :rotfl:0
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