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09 September 2012

Is investing mortgage monies wise?

My £62k interest only mortgage deal with LloydsTSB/C&G ends in January 2013 resulting in a payment increase from £40 per month (0.76% lifetime tracker) to £139 (2.5% SVR). I have the 62k to pay off the mortgage but it seems to me that 2.5% is cheap money so would it be beneficial to use this money elsewhere I.e. buy to let, invest, savings account, social leading. I know the safe thing to do is to pay off the mortgage. Opinions appreciated. Thanks Mark.

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