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Pay off or not?
ConfusedUK_2
Posts: 10 Forumite
Hi to all, and hope someone can advise; We have a part and part mortgage, we owe about £37000 with 6yrs left to run,£ 22800 is on an endowment which will fail,[ have been compensated thanks Martin!] there may be a shortfall of anything between 4000-6000£ We will have savings to make up any shortfall, our current payments are£338 Mortgage + £31.00 endowment[ about to come off tracker rate] , Does anyone know if it would make sence to just keep on the endowment amount of £22800 and pay off the reminder of £14200 now, we will soon have money to do this.
I hope this does not sound too daft/confusing, or should we pay off the whole amount and just keep paying into the endowment policy and wait the 6yrs to maturity. I think the surrender value was-£9000 as of last yr.The other option is just keep paying the mortgage and invest our money?Many Thanks
I hope this does not sound too daft/confusing, or should we pay off the whole amount and just keep paying into the endowment policy and wait the 6yrs to maturity. I think the surrender value was-£9000 as of last yr.The other option is just keep paying the mortgage and invest our money?Many Thanks
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