ISAs provide a way of repaying an interest-only mortgage.
The type of ISA most suitable for mortgage repayment purposes is the equity (stocks and shares) based one. As such one should remember that the future value will be dependent upon investment growth and investments can go down as well as up.
ISAs enjoy significant tax breaks with no capital gains tax on growth, reduced tax on dividend income and no tax levied upon withdrawals. Whilst contributions can be amended at any time, there is an upper limit on the amount you can pay into an ISA.
