After advice from here (thank you all) I worked hard at the mortgage
18 months into 7 year fixed at 3%
Home value approx 300k. Mortgage remaining 60k. Currently overpaying 300 per month
Rainy day fund enough to cover mortgage for 2 years
Age 40.2 kids primary school
No other debts
I can push the overpayment up but should I do this or something else?
Currently no pension. I'm a Carer so I don't think tax relief would apply.
Any thoughts please?
I am asking here on behalf of a friend of mine. My friend is currently getting a disability allowance. At the moment they are paying towards a prsi stamp so they will get the contributory pension at pension age. My friend would like to open a prsa to have a bit more cash at pension age. At the...
Thank you PaddyW. From the information in this it seems that it may be no benefit or little benefit to put funds into a pension without tax relief or top up contributions.
Extra overpayments to the mortgage at least reduces the total interest repayable.