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Should be pay off mortgage, or wait?

northern_star · 2007-12-27 13:34:29

I have a 5 year discounted Repayment mortgage product with the Abbey – 1.35% discounted from their Standard Variable Rate. The mortgage has 13 years to run and approx 37k outstanding (monthly payments £350 at pres) but OH and I will soon be in a position to repay this in full. However there is a tie-in with this particular…

Comments

dimbo61 Posts: 13,727 Forumite

30 December 2007 at 9:20PM

AMIOUS14
Please, please, please pay off your mortgage NOW.
All your benefits would be decided on how much savings you have. If you pay off your mortgage with the payout, the house is paid for, you will qualify for all benefits that you are entitled to, and you and your family have security in an insecure situation.

Good luck and best wishes.

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