Fully repay mortgage NOW - yes or no?

Clive_Woody

One thing to consider is that if you pay off the mortgage and start paying into a S&S ISA then, as you mentioned, the market could drop and in 5-6 years time you could still be waiting for it to recover, but you need to access the money immediately.

Personally I would pay off the mortgage, but I would consider where you save the money based on when you think you will need to access it.

DrHyde

Great thank you all.
Good discussion!
You're right, I forgot to mention that current interest rate I pay is 2.2%... rather low.

Alexland

Also if you live in a flat even if you have access into the roof you might not have rights to build rooms so check your lease and/or deeds carefully before spending any money converting the space.

Herbalus

jeepjunkie wrote: »

Take the opportunity to simplify your life and finances instead of dicking around with a lots of current a/cs, DDs and reg savers. The days of good interest rates for that amount of work are over.

Still worth over £1000 a year to me, and is quite simple for those who’ve been doing it a long time. Some weeks I look for some new account to fiddle with, and can’t find anything. It’s all automated.