Mortgage Clinic: Should I pay off my mortgage with savings? (Independent)

Wednesday, July 2, 2008

'We're approaching the end of a five-year fix with Alliance & Leicester and owe £97,000. We have roughly £70,000 in savings; would you suggest paying all this in to the mortgage and leaving us with a £27,000 debt? Or should we pay some off, or none at all? We'd like to move to a larger house in 2010'. CI, Leeds