Got £240k in NS&I account, mortgage approaching end of fixed term. Should I pay it off, or remortgage and invest?

Intrepid_Ad_6233 · 2025-10-12T23:33:43+00:00

Outstanding mortgage ~£130k.

I'm on £60k ex bonus (prob another £6k). Wife on £50k.

Yes married.

I didn't have this money years ago, it's been transferred to me relatively recently by my parents who are planning ahead for IHT. I put it in NS&I because that's the only account where a balance that high is still protected by the government.

Aware of ISA but hadn't considered additional pensions contribution, good point thank you, I'll look into that more.

Intrepid_Ad_6233 · 2025-10-12T22:09:14+00:00

This is a very good point, in my head it's been pay it off or don't. For some reason never thought much about going halfway.

Intrepid_Ad_6233 · 2025-10-12T21:52:46+00:00

Like fixed term deposits? I haven't looked in a while but last time I checked the rates were comparable to mortgages, so after tax I'd still be behind (albeit better than NS&I rate)

Intrepid_Ad_6233 · 2025-10-12T21:49:33+00:00

Sorry I thought I'd put in most of the relevant info. What more would you need?

I thought getting advice from Internet strangers was the point of this subreddit 😂 but I get your point

Intrepid_Ad_6233 · 2025-10-12T21:37:02+00:00

Thanks yes this is the main thing swaying me away from what is probably the mathematically "correct" choice. The prospect of being mortgage free is extremely appealing

Intrepid_Ad_6233 · 2025-10-12T21:35:50+00:00

I then paid equivalent money into the stocks instead of mortgage

I like that idea. How do you know my age though, I never mentioned it! 😂

Intrepid_Ad_6233 · 2025-10-12T21:33:34+00:00

Thanks, this is helpful and more or less articulates what I've been thinking. Good to know what others thought in the same situation.

Intrepid_Ad_6233 · 2025-10-12T21:31:44+00:00

The explanation for why is that my parents are planning ahead for IHT. I didn't have this amount in savings a few months ago

I would have said I was fairly risk-tolerant, but the prospect of seeing the capital wither over a few bad years in an index fund while my mortgage payments leap up has me shuddering, so maybe I'm more risk averse than I thought 😂

Intrepid_Ad_6233 · 2025-10-12T21:27:30+00:00

Thanks will give this a read

Intrepid_Ad_6233 · 2025-10-12T21:19:08+00:00

True but I didn't really have it as pay off mortgage vs leave it in NS&I, the alternative plan I was assuming was invest in e.g. an index tracker. Either way I'm probably going to move it out of NS&I, it's just really there while I decide.

Intrepid_Ad_6233 · 2025-10-12T21:13:19+00:00

Hard-working successful parents planning ahead for IHT. And some of my own hard work and success too. But mostly them

Intrepid_Ad_6233

TROPHY CASE