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Help with endowments
MXW
Posts: 563 Forumite
If someone has taken out a new mortgage for £100,000 and £50,000 of that is repayment only, am I right in thinking that if 2 of the endowments were taken out many years ago and mature now, that they would repay part of the existing mortgage now (ie if the maturity value of the endowments were £50,000, then only £50,000 would be left remaining on the existing mortgage) I hope this makes sense!
Thanks
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