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paying off endowment mortgage
DrDick
Posts: 2 Newbie
Hi, I hope someone can answer this.
If I pay off my mortgage early does the endowment become taxable?
Also NU/aviva have promised to try to make up at least some of the shortfall. If I pay off will I still get this possible extra?
Many Thanks
If I pay off my mortgage early does the endowment become taxable?
Also NU/aviva have promised to try to make up at least some of the shortfall. If I pay off will I still get this possible extra?
Many Thanks
0
Comments
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If I pay off my mortgage early does the endowment become taxable?
No. The mortgage is one thing, the endowment is another. You can do what you like with the mortgage and it has no impact on the endowment.Also NU/aviva have promised to try to make up at least some of the shortfall. If I pay off will I still get this possible extra?
Yes. As long as you stay until maturity. If you surrender the endowment you lose the promise value.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks dunstonh
Just what I wanted to hear
DrDick0
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