To answer the question properly really needs more info about the original poster's overall financial and personal circumstances. E.g. Married/single? Children? Debts? Plans? Etc. Probably better to post a money makeover thread.
Money makeover
Budgeting and dealing with debt moved to Mortgage Arrears and Debt Forum .www.askaboutmoney.com
I haven‘t included bonus payments in the monthly take home pay.How come your monthly take home pay is so low on Total comp of EUR 322K ?
I understand this line of thinking, but it just seems like a poor use of money to have it sitting there doing nothing. I thought by paying it down and then investing along side that I would have the best of both worlds. I’d also have cash there that I can access, which isn’t something I could do if I put all money into the property?So, in your shoes, I would use your excess cash to pay down the mortgage ahead of schedule. Either break the fixed term or wait until the end of the fixed term and make a lump sum payment.
Off topic but I'm curious how you find making a 10% overpaying on an Avant mortgage. I understand they only allow two overpayment lump sum transactions a year, which I'd assume means you can't use online banking as that's usually limited to 5k / transaction?Hopefully this is the right subforum for this question....
Each year I max out my pension contributions and also overpay my mortgage to the maximum 10% allowed. I am fortunate to then be in a position where I have additional capital to save/ invest. Whilst I could build a larger cash pile (I already have a rainy day fund) I would much prefer to put this money to work.
I suppose my options are some combination of shares/ ETFs/ Investment Trusts? I am 36 so comfortable taking equity risk given my time horizon.
Thanks a million for any pointers. I have been familiarizing myself with the various permutations through this forum, but sometimes wonder if I should shell out for professional advice.
I have made one payment p/a, and have done so via wire transfer. Pretty straightforward so far.Off topic but I'm curious how you find making a 10% overpaying on an Avant mortgage. I understand they only allow two overpayment lump sum transactions a year, which I'd assume means you can't use online banking as that's usually limited to 5k / transaction?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?