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Inheritance advice
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pandora205
Posts: 2,939 Forumite
I was left shares in a property and some money by my mum and I'm deciding what to do with it. The cash was £21k and with that I've paid off a mortgage sub loan (on variable interest) plus 10% of the rest which is fixed interest, plus a bank loan on my car. This has left around £4k which I'm planning to use for a holiday for the family, some repairs to my kitchen (new worktops and flooring) and a laptop.
The rest is in a property which is on the market and we've received an offer. I only 1/8 interest in the property as 49% is owned by her ex husband, the rest being shared with my two brothers and a sister. I stand to inherit around £35-40k.
My current morgage is now around £55k on a fixed rate of 5.49% until May 2009. There are early repayment fees of 3% (2% after May). My question is should I pay this off or invest the money until the fixed rate expires? I have 8 years 8 months left to pay but will not need this when I remortgage in May 2009.
Advice and ideas for investment please? Thanks
The rest is in a property which is on the market and we've received an offer. I only 1/8 interest in the property as 49% is owned by her ex husband, the rest being shared with my two brothers and a sister. I stand to inherit around £35-40k.
My current morgage is now around £55k on a fixed rate of 5.49% until May 2009. There are early repayment fees of 3% (2% after May). My question is should I pay this off or invest the money until the fixed rate expires? I have 8 years 8 months left to pay but will not need this when I remortgage in May 2009.
Advice and ideas for investment please? Thanks
somewhere between Heaven and Woolworth's
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