Join Today
Results 1 to 4 of 4
  1. #1

    To pay or not to pay....off

    Hi,
    I have a mortgage of 67k @ 1.74% on a tracker and I overpay by 250 pm. (currently on about 18 years left - less because of the o/p)
    I have savings of 25k sitting in the bank and I'm wondering if to use a chunk of it to pay more of my mortgage?
    My main question is what will I benefit by paying a chunk off early as the intrest rate is so low? the basic mortgage is 350pm if I keep it to the full term.

  2. #2
    ShaneEcort
    Guest
    I love reading the stories of people whoc have paid off the mortgage or have nearly paid it off.

  3. #3
    What %interest are your savings making in the bank?
    Have you made use of multiple current accounts making 3-5%?

  4. #4
    yes, I have just transferred 20k in a 1.3% bonus 1 year (not locked in) account and the remainder in a 3% current account which is about to expire and drop.


 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •