We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
Invest or pay lump off mortgage?
slaney
Posts: 18
Forumite
I have an opportunity to reduce my mortgage without penalty. The mortgage interest rate is 1.69% fixed for 24 months. Alternatively I could invest that money (but not in something like equities that could lose money). I am higher rate tax payer but my wife pays no tax.
If you had say £50k would you invest it or pay off a lump of your mortgage?
Just looking for some opinions....
If you had say £50k would you invest it or pay off a lump of your mortgage?
Just looking for some opinions....
0
Comments
-
Do you have a works pension, if it were me I would start making the maximum over-payments to that allowable. That immediately saves you 40% income tax.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.8K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.3K Work, Benefits & Business
- 606K Mortgages, Homes & Bills
- 179K Life & Family
- 263.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards