I would just like to say

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Just been checking my finances, as you do, and I think it might be more beneficial for me to invest money each month rather than overpaying me mortgage.

I'll get some projected forecast figures from some investment providers and then make a comparison between mortgage overpaying and investing the same amount each month.
 
Shimsteriom said:
Just been checking my finances, as you do, and I think it might be more beneficial for me to invest money each month rather than overpaying me mortgage.

I'll get some projected forecast figures from some investment providers and then make a comparison between mortgage overpaying and investing the same amount each month.
Click to expand...
Difficult decision as it will run close. I decided to invest instead of paying the mortgage off but I don't know if it was the correct decision!
The mortgage is a good thing to remove and gives you equity for later :)
 
My Old Landy said:
Difficult decision as it will run close. I decided to invest instead of paying the mortgage off but I don't know if it was the correct decision!
The mortgage is a good thing to remove and gives you equity for later :)
Click to expand...
I think I might have left it a bit late as most of the interest has been paid off the mortgage now but I'll read the gumpf from the investment people and see if it's worth it.
 
Shimsteriom said:
Just been checking my finances, as you do, and I think it might be more beneficial for me to invest money each month rather than overpaying me mortgage.

I'll get some projected forecast figures from some investment providers and then make a comparison between mortgage overpaying and investing the same amount each month.
Click to expand...
"The value of your investments may go both up and down often and without warning. House values...not so much.
The more you pay off the mortgage NOW while rates are low reduces the capital amount directly meaning when rates change you are less affected and will be mortgage-free all the sooner.
I agree that your spreadsheets are your best friends at this point. :D
 
Shimsteriom said:
I think I might have left it a bit late as most of the interest has been paid off the mortgage now but I'll read the gumpf from the investment people and see if it's worth it.
Click to expand...
Without knowing all your details, I'd imagine that paying it off as fast as poss is the best way forward. Can't imagine what you could invest in that would be safe that would give a better return than that. And inevitably if you invest it through some investment peeps they'll take their cut, which will reduce the benefit to you.
Whatever you decide best of luck with it.
You'll be really happy once your mortgage is paid off, millstone falls off your neck, and all that!:):):):)
 
My Old Landy said:
The mortgage is a good thing to remove and gives you equity for later :)
Click to expand...
I paid my mortgage off 7 years early. A massive change in outlook - freed up most of the monthly outgoings (Mortgage, life insurance etc) which could be put to other uses, and secure rent free accommodation for the rest of my life. And the feeling of being less than a wage slave - forever. If I was you, I know which way I'd go :)
 
Stanleysteamer said:
Without knowing all your details, I'd imagine that paying it off as fast as poss is the best way forward. Can't imagine what you could invest in that would be safe that would give a better return than that. And inevitably if you invest it through some investment peeps they'll take their cut, which will reduce the benefit to you.
Whatever you decide best of luck with it.
You'll be really happy once your mortgage is paid off, millstone falls off your neck, and all that!:):):):)
Click to expand...
If I were to pay the minimum amount each month off the mortgage I'd have just shy of 11 years left but by overpaying it, as I am now, it'll be paid off in 5 years.
The 5 years will be the amount of time that I need any potential investment to reach an amount that would be needed to pay off the mortgage.

As with all investments, the longer the better so as I said earlier I may have left it too late and that overpaying the mortgage is the better option.

We'll see once I've crunched the numbers :)
 
Shimsteriom said:
If I were to pay the minimum amount each month off the mortgage I'd have just shy of 11 years left but by overpaying it, as I am now, it'll be paid off in 5 years.
The 5 years will be the amount of time that I need any potential investment to reach an amount that would be needed to pay off the mortgage.

As with all investments, the longer the better so as I said earlier I may have left it too late and that overpaying the mortgage is the better option.

We'll see once I've crunched the numbers :)
Click to expand...


Mortgage paid off all the way! If there was to be another market crash you could lose some of your investment :eek:
 
Shimsteriom said:
If I were to pay the minimum amount each month off the mortgage I'd have just shy of 11 years left but by overpaying it, as I am now, it'll be paid off in 5 years.
The 5 years will be the amount of time that I need any potential investment to reach an amount that would be needed to pay off the mortgage.

As with all investments, the longer the better so as I said earlier I may have left it too late and that overpaying the mortgage is the better option.

We'll see once I've crunched the numbers :)
Click to expand...
If you are investing in govt bonds or summat, there may be a fair guarantee, but as has been said before, you are a lot more sure of the future by paying off the mortgage, investments are just a slightly less unsafe form of gambling.
We took out 4 low cost endowments. Only 2 reached their target. We would never have been able to pay off the mortgage with them. Luckily we had met each other by then and were living in the other house and paid that ordinary repayment mortgage off early. And we sold the other house which then did pay off the mortgage on it.
Fingers burned once, twice shy!
 
Shimsteriom said:
Just been checking my finances, as you do, and I think it might be more beneficial for me to invest money each month rather than overpaying me mortgage.

I'll get some projected forecast figures from some investment providers and then make a comparison between mortgage overpaying and investing the same amount each month.
Click to expand...
Vestmints may go up as well as down
 
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