Overpay Mortgage vs S&S ISA

jdw2000

atush wrote: »

6000 off your mtg is just 6000.

6000 into a pension for a HRTaxpayer is 10,000.

Would a more precise/easy to understand way of saying that be:


£10,000 of gross earnings into your pension = £10,000 in your pension.


£10,000 of gross earnings to pay off your mortgage = £6,000 off your mortgage, as you are losing £4000/40% of that in tax.


And, of course, this only applies to higher rate tax payers.

Doshwaster

I'm a great believer in not keeping all of your financial eggs in one basket. It shouldn't be about overpaying mortgage or pension or investments but how you balance all three of them.