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Overpay on pension or mortgage

attila_123 · 2025-01-03 14:02:11

Hi, I didn’t know whether to ask this here, in mortgage section or investments & savings! I’ll try here and hopefully the hive brains can help me. I have around £1000/month disposable income from my salary, which I currently overpay into the mortgage. The mortgage is at 5% and has around 17 years left to pay. In terms of…

Comments

GunJack Posts: 11,956 Forumite

5 January 2025 at 9:42PM edited 5 January 2025 at 9:43PM

The thing is, barring any major disasters noone can throw you out of your house if you've paid the mortgage off....however if you're putting all spare money into pensions and something goes titsup it may leave you stuck...plus it depends on type of pension, how much the mortgage is, etc. e.g ive got 2 db pensions plus a small dc, so i need my mortgage paid off before i finish work and live off the pension income as taking the DBs early isn't really an option.

......Gettin' There, Wherever There is......

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