MissMoneyPenny2
Registered User
- Messages
- 4
Hi
We have 25K to spend, we were going to invest it but given the future of the economy with the coronavirus we have decided to lump sum, pay off our mortgage.
I think we should save money in the long term and what we save will be the reward in the end.
We have no car loans or personal loans no debt...
just the mortgage with 9.5 years left around 86k At 2.3%
We are currently overpaying the mortgage to have it paid quicker monthly which is 900 we are adding 500 to make make 1400 monthly
It looks like we should be able to reduce it down to just under 4 years with the lumpsum and the continuous overpayment
My husband is full time employed aged 42 with a salery of around €83K I’m a stay at home mum 40 With one child 7.
we were considering buying again it would leave us free
Any suggestions welcome
We have 25K to spend, we were going to invest it but given the future of the economy with the coronavirus we have decided to lump sum, pay off our mortgage.
I think we should save money in the long term and what we save will be the reward in the end.
We have no car loans or personal loans no debt...
just the mortgage with 9.5 years left around 86k At 2.3%
We are currently overpaying the mortgage to have it paid quicker monthly which is 900 we are adding 500 to make make 1400 monthly
It looks like we should be able to reduce it down to just under 4 years with the lumpsum and the continuous overpayment
My husband is full time employed aged 42 with a salery of around €83K I’m a stay at home mum 40 With one child 7.
we were considering buying again it would leave us free
Any suggestions welcome