Clear endowment mortgage or Invest,

B

brazz

Guest
My wife is in the process of taking voluntary redundancy from her job of 13 years in Dublin.

the question we have is our 20 year endowment mortgage of €73,644 still has 6 years to maturity. The current monthly premiums are €220 interest and €155 endowment policy, total €375.
We have a lump sum of €100,000 available. (SSIA & Reducndancy)

Would we be better to pay off the mortgage and be debt free (still maintaining the endowment premium of €155) or could the money be put to better use?"

Hope the question is clear enough.
 
Personally, I would pay off the mortgage and start a regular investment with the funds that you have left over.....you will also have freed up a regular amount to save ( your ssia payment and your mortgage repayments ).
 
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