2007-06-10 03:45:45 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
what interest does the £30k attratc and what interest are you paying on the mortgage? Work that out and you will realise that you should use the £30k to reduce the mortgage debt
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2007-06-10 03:50:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Generally yes.
However unless you really expect to need that 30k for something else in a hurry, I would use to to reduce the overall Mortgage and get a 3 year discounted tracker.
[one thing you could do with the 30k is put it into a Private Pension / SIPP - the Pension Scheme administrators collect your Tax Rebate up to the whole of the Tax you paid in the year .. so (assuming your wages are greater than 30k) putting 30k into a SIPP this year with 22% Tax Rebate gives you a £38 pension 'pot' (next year it's 20% Tax Rebate) ]
2007-06-10 21:44:39 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋
Yes. Besides earlier answer you can still use £30,00 but benefit will be reduced.
2007-06-12 13:22:48 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yeah , you should do that....... that would really be very beneficial for you.......!
2007-06-10 03:53:56 · answer #4 · answered by ♫♥♦ND♦♥♫ 3 · 0⤊ 0⤋