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How do I find out whether to save or pay off my Mortgage

If you have any savings use them to pay off the mortgage on your home. If you put £100 in a savings account and earn £5 interest you’ll be left with just £3 after the taxman has taken his slice. But if your mortgage interest rate is 6%, you will pay £6 per year on every £100 of debt.

In other words you pay twice as much interest as you earn on identical sums of money.

If your mortgage interest rate increases to 7%, any extra house repayments you make will be equivalent to earning 12% from a savings account. There isn’t an account alive that offers such a high guaranteed return!

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Please email us on info@uktaxadvisors.com

We are a team of tax advisers and accountants. Our role is to provide well thought through tax consultations and tax advice where applicable to you. We also provide a wide range of accounting and financial advice services.

Simply email us your requirements on info@uktaxadvisors.com or using the contact us page HERE and your request is addressed in a matter of minutes. .

Present your request in your own way– quick & easy. Make a short and clear, yet very informative request and this will be forwarded to the right department. An accountant or financial advisor or tax advisor will contact you to start a discussion to provide you a solution.

If you have any documents for Posting - please send us to our main office:

UKtaxadvisors.com
829 Birmingham New Road
Dudley
DY4 8AS
UK

If you have any queries or additional questions / comments please email us on info@uktaxadvisors.com

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Get your Accounts and Tax Return completed by qualified accountant from just £120!
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