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Mortgage or AVC
Julie0812
Posts: 2 Newbie
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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Comments
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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 debts1 -
It is impossible to answer that question without a lot more information.
You should speak to a financial advisor.I am a Mortgage AdviserYou 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.2 -
How secure is your employment ? Pension savings aren't accessible until retirement.0
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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...Thrugelmir said:How secure is your employment ? Pension savings aren't accessible until retirement.
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