Should I use a 税金-解放する／自由な 年金 lump sum to 支払う／賃金 負かす／撃墜する my mortgage before I retire?

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I am hoping to get your 見解（をとる）s on my 状況／情勢. I am 58 years old and my mortgage runs for another nine years until I'm 67.

The 貸付金 is 現在／一般に on a 直す／買収する，八百長をするd 率 1.78 per cent until August 2025. I have £158,000 left to 支払う／賃金 and I'm overpaying わずかに at £200 per month. My normal 支払い（額） is £1,396.00 a month, and I 現在／一般に 支払う／賃金 £1,596.00. I'm also 目的（とする）ing to save around £10,000 to £15,000 over the next two years.

I think I will have 概略で £122,000 remaining on my mortgage by the time I need to remortgage and I guess I will need a 貸付金 for £110,000.

I also have a direct 出資／貢献 年金, which I think will be 価値（がある） around £170,000 by 2025. Should I cash in my 25 per cent 税金 解放する／自由な lump sum from that 年金, and use it to 減ずる the 量 of 利益／興味 I would have to 支払う／賃金 on the mortgage??

I 推定する／予想する, if things go 井戸／弁護士席, to overpay a lot of the mortgage from 2025 to 2028 and want to be in a position to be mortgage 解放する／自由な around 2028, when I'm 63.?

I have a defined 利益 年金 of around £6,000 a year when I'm 65 and かもしれない a small £4,000 相続物件. This last bit is the unknown and will dictate the year I can 現実に retire. 経由で email?

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Mortgage help: Our new 週刊誌 Navigate the Mortgage Maze column 星／主役にするs 仲買人 David Hollingworth answering your questions.?

David Hollingworth replies: Many borrowers are 現在／一般に locked into very low 直す／買収する，八百長をするd 率s which will 供給する invaluable 保護 from the 最近の 引き上げ（る）s in 利益／興味 率s.

With 直す／買収する，八百長をするd 率s now 井戸／弁護士席 in 超過 of 5 per cent or even 6 per cent depending on the 称する，呼ぶ／期間／用語 those still locked into a low 直す／買収する，八百長をする will be 感謝する for the 衝撃を和らげるもの against rising costs.

Although your 現在の 率 of 1.78 per cent contrasts starkly with 率s 現在／一般に 利用できる, it's the 権利 thing to start thinking about how you can best 準備する for the end of that 取引，協定.?

We can't know what things may look like in two years' time, and although there's 現在／一般に an 期待 that 利益／興味 率s will 緩和する 支援する as インフレーション 減ずるs, there's little 期待 of 率s dipping 支援する to the historic lows that 許すd you to lock in at such a low 率.

It therefore makes sense to 推定する／予想する that 利益／興味 率s will still be higher when the 存在するing 取引，協定 ends. As result there's even more 推論する／理由 to make the most of the 現在の 取引，協定 for the two years it has left to run.

You 明確に have a keen 焦点（を合わせる） on eroding your mortgage as soon as you can. Most 直す／買収する，八百長をするd 率 取引，協定s will tie you into the 取引，協定 during the 直す／買収する，八百長をするd 率 period and 課す an 早期に 返済 告発（する），告訴（する）／料金 if you were to 返す the mortgage.?

However, most 貸す人s will 許す you to make overpayments up to a 確かな 限界, typically up to 10 per cent?of the balance each year.

It would be 価値（がある） checking your 現在の balance and 称する，呼ぶ／期間／用語. The 月毎の 支払い（額）s for a £158,000 mortgage at 1.78 per cent over 9 years would be £1,584 a month, so you may have paid off more than you 心配する - or the 称する，呼ぶ／期間／用語 may be a little longer.

支払う／賃金ing 負かす／撃墜する: Our reader wants to know if they should use a lump sum to 支払う／賃金 負かす／撃墜する their mortgage to 減ずる the 衝撃 of higher 利益／興味 率s

?Nonetheless, your £200 月毎の overpayments will not be troubling a 10 per cent allowance and so you have plenty of 柔軟性 to 増加する that 量 if you 手配中の，お尋ね者.

Having said that, it's important to decide whether direct mortgage overpayments would be the best approach at the moment.?

Rising 利益／興味 率s are bad news for borrowers but 貯金 率s have been climbing. In some 事例／患者s that could mean that 貯金 率s are 申し込む／申し出ing a higher 率 than you are 支払う／賃金ing on the mortgage.

That could mean that 支払う／賃金ing 定期的に into a 貯金 account will help you build the overpayment 基金 that you 述べる, whilst 収入 a better 率 of return than 返すing the mortgage would give you.?

> Find the best-支払う／賃金ing 貯金 accounts on This is Money's 率 （米）棚上げする／（英）提議するs?

When making that comparison don't forget to factor in whether you will have to 支払う／賃金 income ta x on the 貯金 利益／興味.

The personal 貯金 allowance has meant that many savers have not had to worry about 支払う／賃金ing 税金 on their 利益／興味, as the £1,000 allowance for basic 率 and £500 for higher 率 taxpayers has been 適する.?

Now that 利益／興味 率s are higher there is a greater chance that 貯金 利益／興味 could become taxable and so overpaying 負債, most expensive first, is still 価値（がある） considering.

Using the 税金 解放する／自由な lump sum of your 年金 is another possible 大勝する to 許すing the mortgage to be repaid sooner but you should consider all the 代案／選択肢 選択s first and 捜し出す 専門家 年金 advice.

Understanding how much you may 借りがある at the end of the 現在の 取引，協定 同様に as the 量 of 貯金 you've built and/or overpayments you've made will be important.?

We don't know what 利益／興味 率s will be in two years or what 可能性のある growth that the 年金 貯金 might 申し込む／申し出 compared to the 削減 in mortgage 利益／興味 by using the lump sum.

Crucially, you will need to consider how using the lump sum will 影響する／感情 your likely 年金 income in 退職.?

支払う／賃金ing off the mortgage earlier will be a welcome 削減 in 去っていく／社交的なs but you will also need to be sure you can 生成する enough income with a smaller remaining 年金 マリファナ, 同様に as considering whether there may be other 貯金 利用できる or if downsizing might 申し込む／申し出 an 代案／選択肢.

In the 合間, carry on planning for the end of the 現在の 率 and how to 減ずる the mortgage - but it is important that you take specialist 年金 advice to understand any possible 未来 税金 considerations and all the wider 関わりあい／含蓄s before deciding whether to use the 年金 貯金.