Have a cheap tracker mortgage ~1%
Owe 200k
Have 290k on deposit earning around the same rate
Don't plan on trading up house
About 180k invested in stock Market
I have pretty much decided to pay off mortgage , feels like a bad move paying off a loan that is costing so little in interest , but Interest rates are so low for deposits and I don't want to juggle money around for an extra 0.5% here or there , i'll ask the bank will they do me a deal for paying off the mortgage early but i'm not holding my breath.
Any opinions on why I shouldn't pay off are welcome , I have read key posts etc on "should i pay off a mortage " if this was a variable rate I wouldn't be hesitating at all .
Cheers
Fella
Owe 200k
Have 290k on deposit earning around the same rate
Don't plan on trading up house
About 180k invested in stock Market
I have pretty much decided to pay off mortgage , feels like a bad move paying off a loan that is costing so little in interest , but Interest rates are so low for deposits and I don't want to juggle money around for an extra 0.5% here or there , i'll ask the bank will they do me a deal for paying off the mortgage early but i'm not holding my breath.
Any opinions on why I shouldn't pay off are welcome , I have read key posts etc on "should i pay off a mortage " if this was a variable rate I wouldn't be hesitating at all .
Cheers
Fella