To Overpay or not Overpay the mortgage..that is the question

20 Posts

Interested to get feedback and thoughts from you. I'm really torn, up till now in life i've always been an overpayer of my mortgage but interest rates are so low, i'm now thinking investment is the right way to go.
My circumstances are:
High rate tax payer, already max out my pension of 40k per year and ISA also maxed out, mortgage is now fixed at 1.64% for five years. My LTV is less than 40%
Now I could just continue to overpay my mortgage but i'm thinking 1.64% for the next 5 years is less than inflation.
So what would you folks do or are planning to do during this mega low interest rate period...
My circumstances are:
High rate tax payer, already max out my pension of 40k per year and ISA also maxed out, mortgage is now fixed at 1.64% for five years. My LTV is less than 40%
Now I could just continue to overpay my mortgage but i'm thinking 1.64% for the next 5 years is less than inflation.
So what would you folks do or are planning to do during this mega low interest rate period...
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There is the non-financial reward of paying off the mortgage of the removal of risk - you will always have a roof over your head if you own the roof! Though it is very hard to put a value on this risk or lack there of.