My 貯金 outweigh my mortgage: Should I 支払う／賃金 off the 負債 or keep saving?

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I'm at a bit of a pivotal 十字路／岐路 in my life and I'd 高く評価する／（相場などが）上がる some advice and opinions on what are my best 選択s.

I'm 38, 選び出す／独身 (no dependants) and have a mortgage. I find myself in a fortunate position where my 貯金 now 越える the remaining 量 on my mortgage.

I have £37,000 in 貯金 and my mortgage 量 is £36,500. I have been overpaying the mortgage by 10 per cent of the 初めの 量 for the past two years.

My 存在するing mortgage 取引，協定 runs out in April 2027 and I'm 現在／一般に 支払う／賃金ing 利益／興味 of 1.89 per cent. As things are, I have 12 years left before the mortgage is fully paid. There is an 早期に 返済 告発（する），告訴（する）／料金 (ERC) 大（公）使館員d to the mortgage.

Mortgage help: Our 週刊誌 Navigate the Mortgage Maze c olumn sees 仲買人 David Hollingworth answering your questions

I'm trying to decide what the best thing is to do financially.

現在／一般に, I can get an Isa 直す／買収する，八百長をするd for one year at 5.5 per cent with my bank or a 社債 at the same 率.

Would it be best to:

1) 支払う／賃金 off the mortgage in 十分な (含むing ERC)

2) Continue to overpay at 10 per cent each year and put as much as I can in an Isa or 社債

3) Put as much as I can in an Isa or 社債, let the mortgage 取引，協定 end in 2027 and 支払う／賃金 it off then? 経由で email.

SCROLL DOWN TO FIND OUT HOW TO ASK DAVID YOUR MORTGAGE QUESTION

David Hollingworth replies:?This is 明確に a nice problem to have, 特に at a time when 利益／興味 率s have been rising so はっきりと.?

You've 明確に put plenty of 成果／努力 into saving and overpaying to enable you to reach the point when the 存在するing mortgage is outweighed by your 貯金, 特に at such a young age.

On first look it would seem like an 平易な 決定／判定勝ち（する） to make and to get 発射 of your mortgage is the 重要な 的 for any borrower.?

However, there are several moving parts that you've 正確に identified as 存在 at play in 形態／調整ing your approach.

接近 to your 貯金

Firstly, before making a 決定／判定勝ち（する） to 支払う／賃金 off a mortgage in 十分な or part it's important to 確実にする that you will have 貯金 that can be easily 接近d.?

This can be thought of as a 雨の day 基金 that can be drawn on if any 予期しない costs arise.?

There's no one 訂正する 量 to 持つ／拘留する in cash but ideally most of us would 持つ／拘留する a fallback sum to cover living expenses for three to six months.

Using cash to overpay or redeem a mortgage in 十分な will make it much harder to 接近 and would 最終的に 要求する a remortgage to 解放（する） 公正，普通株主権 if the cash was needed at a later date.?

That would take time and also 背負い込む cost, so it makes sense to 始める，決める aside accessible cash rather than throw every last penny at 支払う／賃金ing off the mortgage.

The mortgage 早期に 返済 告発（する），告訴（する）／料金

The fact that you 直す／買収する，八百長をするd the mortgage 率 which lasts for several more years looks like a 広大な／多数の／重要な 決定／判定勝ち（する）, given the 早い rise in 利益／興味 率s over the last 18 months or so.?

Having such a low 率 明確に keeps the mortgage costs 大幅に lower, so you are in a position of strength on that 前線 同様に.

You still need to consider the 早期に 返済 告発（する），告訴（する）／料金, which could put a sizeable dent in the 利益 of 支払う／賃金ing off the mortgage.?

To make an 知らせるd 決定／判定勝ち（する） it is important to understand 正確に／まさに what that cost may be, as ERCs will 変化させる depending on the 貸す人 and the 製品.?

Some 貸す人s will 告発（する），告訴（する）／料金 a flat ERC throughout the 取引，協定 but others will 減ずる through the 称する，呼ぶ／期間／用語 of a 取引，協定 同様に, often dropping each year, so it could depend on how far through the 直す／買収する，八百長をするd 率 you are.

最終的に 支払う／賃金ing a 料金 that could easily be 3 to 5 per cent of the 量 repaid could 本気で 土台を崩す the 利益 of 支払う／賃金ing off the mortgage, 潜在的に equating to more than £1,800.

> What next for mortgage 率s and should you 直す／買収する，八百長をする??

Higher 貯金 率s could （警官の）巡回区域，受持ち区域 your mortgage 率

At the same time 貯金 率s have been climbing. 存在 able to earn a higher 率 of 利益／興味 on y our 貯金 than you are 支払う／賃金ing on the mortgage, means that you could 現実に be better off by putting the cash into 貯金.

You've 特記する／引用するd a high cash Isa 率 and 直す／買収する，八百長をするd 率 社債s may 申し込む／申し出 an even higher 利益／興味 率, although you should consider whether that could 誘発する／引き起こす 所得税 on the 利益／興味 by 押し進めるing you through the personal 貯金 allowance (£1,000 利益／興味 per 年 for basic 率 税金 payers and £500 p.a. for higher 率).

Based 純粋に on the numbers it would 現在／一般に look like 支払う／賃金ing your cash into a favourable 貯金 率 will 勝利，勝つ out, 収入 you more in 利益／興味 than the mortgage will cost you.?

You may also want to consider longer 直す／買収する，八百長をするd 率s to lock in the differential in mortgage and 貯金 率s.?

The dynamic could 転換 over time if 貯金 率s alter though and again it's important not to lock 負かす／撃墜する all your cash to 持続する the accessibility.

> Check the best 貯金 率s in our 独立した・無所属 （米）棚上げする／（英）提議するs?

Balance saving and overpaying the mortgage

Given how much 焦点（を合わせる） you've put on 減ずるing your mortgage you may decide that a balanced approach could be the way 今後.?

Most 貸す人s 許す up to 1 0 per cent per 年 to be repaid without any ERC and you've already made use of that 施設.

You may decide to persevere with that 戦略 so that you continue to make inroads into the mortgage balance whilst making sure that you earn more on the 残りの人，物 in 貯金.?

That will 供給する some satisfaction of seeing the balance 落ちる but also help you grow the 貯金 マリファナ in the 合間 without putting 資本／首都 at 危険.?

That will then enable you to （疑いを）晴らす the mortgage once the 現在の low 直す／買収する，八百長をするd 率 comes to an end without any 刑罰，罰則.

> Check how much would you would 支払う／賃金 with our best mortgage 率s calculator?