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Should I clear my mortgage

alanhd
Posts: 1 Newbie
I have an inheritance coming and I would like to know if we should pay off part or all of our mortgage.
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Comments
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We chose not too when we came into some money as our mortgage was affordable and we could do much more with a lump sum.
But for something more constructive you may want to provide some more details about you, your circumstances and financesMake £2023 in 2023 (#36) £3479.30/£2023
Make £2024 in 2024...0 -
Why Not comes to mind !
However do you have other debts ?
Have you got emergency savings ?
Pensions, jobs, savings, kids, future plans !
Time to talk to your other half and family / friends0 -
If it was me i would because then I know if have a roof over my head for life! Others on here may suggest other ways to invest it though depending on your circumstances.Mortgage started August 2020 £69,700
Mortgage ends Aug 2050 MFW: Aug 2027
Current Balance: £58,678
MFW2020 #156 £723.13
MFW2021 #26 £1184.71
MFW2022 #11 £197.87
MFW2023 £785
MFW 2024 £528.15Determined to make it!0 -
If you paid off all the mortgage and then didn't like it - you could always borrow again!Details of your mortgage rate, terms, etc. would help to give a better analysis.0
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alanhd said:I have an inheritance coming and I would like to know if we should pay off part or all of our mortgage.
How old are you and how long left do you have on the mortgage?
How is your short term, medium term and long term savings/investments?
How on track is your retirement planning?
What are your future objectives?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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