I have a mortgage of about £115k and various savings totalling around £17k (ISAs etc). Now would I be better off keeping the savings separate or just treat the mortgage as a debt and pay it off as soon as possible?
I've calculated that if I put the savings into the mortgage and overpay by £200 a month I'd be mortgage free in 10 years - something that is very attractive. However most of the savings are in equities and currently the returns aren't too bad (probably better than just paying off the mortgage - as long as the savings are tax free that is!)
My current mortgage will fine me if I overpay too much too soon, but in another year's time I can overpay by as much as I like, so do I just surrender the lot and pay it back into the mortgage?
Anyone any thoughts on this?