10 months left and then it's gone- or sooner???

hostertlady

my mortgage finishes at the end of december with an endownment paying out too,

i have some money coming my way this month and i could actually pay the remainder of the mortgage off straight away and then when the endownment is due it will be all mine:j :j

what do i do? pay it off now? i owe about £4000..

or bung the money into an account( i have already topped up my isa for this year)

would i really benefit by paying it all off now?? i dont know

dimbo61

that depends on the type of deal you have with your lender and the
interest rate you are paying.
Any early repayment charges ? what is the interest rate on your mortgage ?
can you get a better rate from a savings rate ? ISA £3600 from april plus
Lloydstsb paying 6.5% for one year on ISA,s over £9000+
If its better to pay off the mortgage then GO FOR IT GIRL !!! GOOD LUCK

hostertlady

no repayment charges, i always pay over each month anyway its a 25 year mortgage which is coming to the end..( 25 years, if i had known about this site years ago i would have paid even more off it and finished it years ago!!

setmefree2

Have you got next years ISA money sorted?

hostertlady

Have you got next years ISA money sorted?

funnily enough, i have been into town today and picked up all the bunff for the next lot of ISA's, the young girl on the counter at nationwide was far too busy doing her nails to be interested in me so i went to another provider and she was lovely, i have transferred my crappy ISA over to a better one for this year and in april i will open another one or just top up my new one cos the rate is good..

dimbo61

good for you keep up the savings and you will feel much better with money in
the bank earning you interest rather than having debts to other lenders.
december is just 9 months away and having savings and no mortgage is great.
GOOD LUCK