Property News · October 15, 2015

Should we pay off our mortgage in full?


We will soon be in a position to repay the capital sum on the house but have heard that keeping a small amount outstanding is sensible Q Quite by accident when tidying paperwork I noticed that I have critical illness cover on the insurance for my mortgage. A year and a half ago I needed a heart bypass operation and this allowed me to claim on the policy. We have close to two years remaining of a repayment mortgage to pay. The balance is between £9,000 and £10,000.We also have a £1,500 loan to pay off and credit card balances of between £4,000 and £5,000. We have a son at university and our combined income is £58,000 before tax. Continue reading…

Source : theguardian.com
Read more…Should we pay off our mortgage in full?

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