Pension vs S&S ISA

Bobziz

rjmachin said:

My current mortgage is with the Halifax.  If I wait until the 1st November, then the ERC would be 3%, so approx £2,310.
Halifax have a 3 year fix at 2.48% and a 5 year fix at 2.59% fix
The MSE Ditch calculator says it's better to fix if the rate is 2.04% or lower.

If I switch to another provider, then I would have the unknown costs of valuations, solicitor fees, product fees etc on top of the ERC.

I could increase my Aegon pension though.   I want to get savings of 6 months income first though as a safety net.

On my income and spending, I have no chance of maxing out my pension, but could certainly increase it.

Switching is easier than you might think. Many lenders will not charge a legal fee or valuation. A quick scan of the best buy table on this site shows Nationwide doing a 3 year fix with £20 fees and up to £500 cash back at 1.64%. Re pension, yep apologies, I meant increase your pension contribution as much as you are able to afford rather than max out.