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Overpay the mortgage or meagrely save for retirement

2 replies

whatnooow · 28/02/2025 10:51

We can probably pay about £500pm extra on our mortgage at the moment, which I am desperate to do as being mortgage free is really important to me.

DH thinks we should be saving that £250 a month each in to our own ISAs for retirement.

I'm really torn on what to do because surely that £500 a month off the mortgage would be far more noticeable in the long run as it'll knock about 10 years off our term and save about £70k in interest.

What would you do?

Oh we're both mid/late 30s with earnings of around £80k pre tax between us.

OP posts:
Iamallowedtodisagreewithyou · 28/02/2025 10:52

spread your risk

equal amounts savings/pensions/mortgage overpayments

whatnooow · 28/02/2025 12:50

@Iamallowedtodisagreewithyou that's actually good advice. Thank you

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