Hi Moffitt,

Firstly, excuse my alias - I set it up to use on another discussion group and stumpled across this thread whilst browsing!

I'm no financial expert (I trusted the Icelandics!) but I think you are spot on.

If you have always been able to pay your mortgage, then any saving due to reduced interest rates is effectively a tax free investment at your mortgage rate - not a bad return. Also, if you pay any saving off your mortgage now, you won't miss the money when interest rates go up again - simply reduce your payments (on a smaller capital). Also, if you have endowments, this will help mitigate their dismal performance over recent years and help you to reduce your shortfall.

Im going use the extra money to pay off the capital off my mortgage. With savings rates so low, is it worth the while to put additional money away for such a small return? I dont think it is.