📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Paying off your mortgage

Options
Isera
Isera Posts: 2 Newbie
in Mortgages & endowments
I have recently been left some money and wonder whether if would be advisable to pay my mortgage off or use the money to offset the mortgage. Any advise would be welcome.

Comments

  • lisyloo
    lisyloo Posts: 30,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    What type of mortgae do you have?
    Are there any penalties for paying it off?
    Do payments get taken into account straight away?
    What rate is it?
    What tax rate do you pay?
    Have you used your ISA allowance this year?
    Do you have enough emergency money?
    Are you putting enough into a pension?

    Sorry but it isn't a yes or no answer.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.2K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture