should i pay of some of mortgage with savings in evergreen fund?

L

lslk

Guest
thankfully we are nearing the end of our mortgage and have just under 2 years left to pay. have an evergreen fund with bank of ireland for the last 3 years and have approx 10,000 saved.

i am wondering should i just take my money out of evergreen fund and pay that off my mortgage hence reducing my term (i have flexible first active mortgage) and also reducing the interest i pay. does this make sense? this is mind boggling for me but what i think is surely the money i have saved by using that i am paying less interest on mortgage thus paying it off quicker and what extra i'm paying on interest on mortage i'm certainly not getting the same return on evergreen and then when i have mortgage paid i can easily start up another evergreen fund or similar as will no longer be paying mortgage, please advise as i am clueless when it comes to this. thanks.
 
I like the idea of paying off the mortgage early. With interest rates dropping it's probably a good time to do it. Then with no monthly mortgage outgoings you could use the extra cash to kick off another savings plan or top up your pension.
 
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