Hi,
Due to an inheritence I am in the lucky position of being able to repay my mortgage off in full at the age of 26.
I have put off doing this so far as I have the money invested earning about 6%p.a. and growing. My mortgage rate is only 2.5%.
I switched the mortgage to interest only as at the time it helped having the payments lower. But now I am considering my options.
I earn a good salary and could afford to switch back to capital repayment but I would miss a few of the luxuries that I am used to.
I believe I have the three options as in the poll.
The mortage is variable so there will be no early repayment charges. The only costs will be in liquidating my portfolio.
I would still be left with a portfolio of £110k to have as a fall back for the future.
Due to an inheritence I am in the lucky position of being able to repay my mortgage off in full at the age of 26.
I have put off doing this so far as I have the money invested earning about 6%p.a. and growing. My mortgage rate is only 2.5%.
I switched the mortgage to interest only as at the time it helped having the payments lower. But now I am considering my options.
I earn a good salary and could afford to switch back to capital repayment but I would miss a few of the luxuries that I am used to.
I believe I have the three options as in the poll.
The mortage is variable so there will be no early repayment charges. The only costs will be in liquidating my portfolio.
I would still be left with a portfolio of £110k to have as a fall back for the future.