Extra cash - mortgage or investment?

[Cythia]

DH earns £60k + £15K bonus + good pension (15%)

I earn £70k + no bonus + statutory pension (8%)

Our mortgage is currently £1,000 but will go up to £1,600 when we remortgage this year.

I used to travel to work and this cost £600/month. I am now moving to wfh permanently.

What should I do on the "saved" £600 from travelling?

You aren't used to having the money.
Dump it in a savings account until the remortgage goes through, then use it for the increased repayments, and carry on as you are with the rest of your spending. Give a sigh of relief that it's not an increase in 600 in transport and mortgage at the sane time.

Use it to pay mortgage increase?

Put it in the highest interest cash savings account you can, then use it to pay off a chunk of the mortgage when you remortgage (as it will earn more interest than your existing mortgage rate).

Obviouslh once you remortgage it will go straight to paying off the increase.

Not sure I understand.

mortgage going up by £600 a month and money available by WFH increasing by £600 a month?

Obviously the £600 cancels out the £600?

What @Amidlifecrisis said but also review your overall finances because with around £7-8k pm coming in, you can probably afford to pay more than £1600 towards your mortgage unless you have high childcare costs so that's a guaranteed win when the interest rate rises.

So perhaps look at paying off faster alongside saving a chunk of cash if you haven't already done so and putting money in an investment ISA.

Thank you everyone. We don't have huge outgoings and will definitely be overpaying the mortgage.

DH has a lot going into his pension. Me, not so much. I am thinking of putting the saved £600 towards either ISA or pension.

Is the saved £600 my money to put in my pension or family money to put towards the mortgage?

Depends on your stage of life and career earning security.

In pure financial terms, pension probably better and the tax breaks really help this. But that money is locked away until you retire.

In my 30s and 40s I balanced more heavily in favour of paying the mortgage off. There's something nice about knowing if my income fluctuates or falters, I'll not have to move house.

But nobody can accurately predict the future. I don't think house prices will keep rising due to a reset of interest rates - this is now back to normal and here to stay. But neither do I think the stock markets will do particularly well either.