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Help! Pay lump sum off mortgage or keep in ISA
The_bear_4
Posts: 3 Newbie
I have a mini ISA which I have been saving money in for my pension, as I dont have any pension provision.
I am coming to the end of a fixed mortgage in June and have one further year to go to the end of the mortgage.
Can anyone advise whether it is better financially to use the mini isa to pay off a lump sum on the mortgage or to keep the money in the mini isa. My thinking is that when the mortgage is paid off in a year I will be able to save a lot more towards a pension.
I would also appreciate any advice as to whether I would be better off starting up a new private pension or saving in an ISA for retirement. I work in the building trade and have a small frozen pension, as there has never been reliable pension provision in the building trade. I am 50 years old.
Any advice would be appreciated.
Thanks
I am coming to the end of a fixed mortgage in June and have one further year to go to the end of the mortgage.
Can anyone advise whether it is better financially to use the mini isa to pay off a lump sum on the mortgage or to keep the money in the mini isa. My thinking is that when the mortgage is paid off in a year I will be able to save a lot more towards a pension.
I would also appreciate any advice as to whether I would be better off starting up a new private pension or saving in an ISA for retirement. I work in the building trade and have a small frozen pension, as there has never been reliable pension provision in the building trade. I am 50 years old.
Any advice would be appreciated.
Thanks
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