Mortgage repayment strategy
Hi all, firstly I know I need to book into a financial advisor, but wanted to get some general feedback on if this is a viable idea or am I overcomplicating things.
The situation: I'm 2-3 months off settling for an 850k apartment (off plan situation). There was an unexpected death in the family and I will be inheriting approx. 700k (this was very unexpected too). I will be settling the apartment before probate clears, so I still need to get the loan sorted.
Soon as probate clears, the inheritance might be enough to pay off the total loan. But is that the best option?
I was thinking another option might be to get the inheritance money into a high interest account, pay off the minimum loan repayments from my salary, but add an extra monthly contribution of all my interest earnings (minus tax) each month.
By my calculations, the loan could be paid off in under 10years, and at the end of it, I'll still have the full inheritance to invest and put towards retirement planning.
If I pay off the loan ASAP, 10 years of savings from my salary may see me with the same (or even more) in my account - but that is making the big assumption that my salary situation never goes down in 10 years.
So reddit, am I onto a sound strategy or overcomplicating things? Or missing some other very obvious option.
Thanks in advance.
Posted Dec 7, 2025, 12:55 PM UTC