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Best investment?

misscharlie · 2008-08-18 12:24:20

As we taking an interest only mortgage, I would like to set up something to save into. For the first couple of years it will only be a small amount £30-£50 a month, and in a few years time increase the payment to around £100-150. Is it worth setting up an endowment. I have no clue about any of this so please be gentle! :)…

Comments

Ian_Griffiths_Halifax Posts: 1,690 Forumite

19 August 2008 at 10:46AM

Check with your lender. Most will allow an element of Overpayment without penalty and this may be a max 5 or 10% of the balance, but that would be fine going by the amount you suggested. Also, there are no Fund Managers taking a cut, no worrying about how well your investment is doing etc etc. You know it's coming off your mortgage balance.

I am a Mortgage Consultant and don't like to be told what I can and can't put in a signature so long as it's legal and truthful.
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Best investment?

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