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Mortgage or AVC

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Hi    I have a mortgage that I pay each month, but I also pay into AVCs should I stop paying Iant o the AVC and put it towards my mortgage  instead , to bring my mortgage down sooner .

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  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You are getting tax relief at 20/40% on the money you pay into the AVC 
    If you stop paying into the AVC you wil miss out when you come to retire.
    You get the 25% of the money you build up tax free.
    Overpay the mortgage each month is always a good idea if you have no other debts
  • ACG
    ACG Posts: 24,540 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    It is impossible to answer that question without a lot more information. 

    You should speak to a financial advisor. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    edited 28 January 2021 at 9:54PM
    How secure is your employment ?  Pension savings aren't accessible until retirement. 
  • MWT
    MWT Posts: 10,210 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    How secure is your employment ?  Pension savings aren't accessible until retirement. 
    Just being a little pedantic I know, but you don't have to be retired to access pension funds, nothing stopping you from starting a pension running while still continuing to work as long as you are at the required age...

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