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What do do with 40K

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As the title says does anyone have any investment ideas with the above amount?

I am mortgage free but have a 2nd flat that has a mortgage of £43k on it.

I would be interested to hear anyone's views whether to pay this off or invest somewhere?

Thanks in advance.

Chris

Comments

  • Linton
    Linton Posts: 18,130 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Hung up my suit!
    What interest are you paying on the mortgage? Is it higher than you could reasonably safely get as interest or investment growth?

    Have you any known need for some of the money in the future? If so when?
  • Eco_Miser
    Eco_Miser Posts: 4,833 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    When do you require access to the money again?
    Have you read any of the other threads with similar titles, or the one about invest or pay down mortgage?
    Eco Miser
    Saving money for well over half a century
  • Linton wrote: »
    What interest are you paying on the mortgage? Is it higher than you could reasonably safely get as interest or investment growth?

    Have you any known need for some of the money in the future? If so when?

    Well I shouldn't need the money anytime soon.

    I'm paying about 3% at the moment but I'm locked in for another 9 months so would pay off then.

    Thanks for the reply.
  • Eco_Miser wrote: »
    When do you require access to the money again?
    Have you read any of the other threads with similar titles, or the one about invest or pay down mortgage?

    I'll read that now thanks.
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