Overpay with inheritence

jaylockwood1978

Sadly I have come into an inheritance and want to make it go as far as possible and help my family as much as possible. 

I plan to max out an isa.
my current mortgage deal is 1.94% for another 2 and half years fixed. The amount is £344,000.
i can overpay 10% without penalty and feel I should do this but am I better waiting until my fixed deal ends due to current fairly low interest rates or should I pay now?
inapprxiate people can’t give direct financial advice but what would you do? 

penners324

What about putting some of it into your pension? 

amnblog

You can find bank accounts where the return on your money after tax will easily outstrip the 1.94% your mortgage Lender is charging you. While you are on this rate there seems little point in settling.

Robin9

Have you actually received the inheritance or been told its coming your way ?   If there's a house to be sold actaully getting the money in your bank may well be 12 months away.

Enjoy a little of it -  that holiday you've dreamt of