Mortgage Vs Pension

C

conormc

Guest
Recently I have been considering reducing my pension payments to pay a bit more each month from my mortgage. My reasoning for this is that if I can pay my mortgage off earlier this will free up more money to invest as I wish and hopefully build up a nest egg and give me more freedom.
I am 34, have 17 years and 230k left on my mortgage and currently pay 450 pm into my private pension. I am thinking of switching 50% of my pension payments into my mortgage.

Any thoughts?

Conor
 
Concur with your plan. Owning the house outright gives you leverage of an asset and this is important to balance first prior to pension. Can you use lodger etc to offset tax and pay down the mortgage debt? It seems very high and hard to afford?
 
Michael,
Lodger not an option as it is a family home. Mortgage just about affordable at present, I am also planning to get the house revalued as my equity is greater than 50% and switch to a better rate tracker combined with the increased payments.
 
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