Property News · July 13, 2017

Is paying off the mortgage a better bet than saving?


We’re worried about the impact of Brexit on our moneyQ We are a family with some savings – around £70,000 – but are worried they might be worth less once Brexit is decided: ie, the pound will go downhill.So if we want to put the savings into something, is it best to pay off a big lump sum on a mortgage of £135,000 with 12 years to run, or use the money to buy another property to let out? Or do both? The mortgage on our home is a two-year interest-only deal that expires in June. We save £1,000 a month to pay off lump sums each time we switch fixed-rate deals. Continue reading…

Source : theguardian.com
Read more…Is paying off the mortgage a better bet than saving?

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