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Take Tax free amount out of Pension to pay off mortgage
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Qyburn said:
From a mathematical/financial point of view it would be better not overpaying, but putting the equivalent amount into savings paying a lot more than 1.34%. Regular savers for example, paying 6% or more.Scruffy_Meee said:I am 56 and currently have a 1.34% fixed rate mortgage until May then the fixed term stops and I go back to real world rates. I am currently overpaying the Mortgage..Even an ISA paying 4% would see the OP being £140 better off by this time next year.
N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.Not exactly back from my break, but dipping in and out of the forum.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!0 -
Up until his fixed rate deal ends, in about a year's time.A little FIRE lights the cigar0
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