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Herbal
herbalrems
Posts: 19 Forumite
Hi All!
Bit of advise if you can............
Part of my mortgage is an endowment, £23,500, the other part is a repayment, about £47,000 left on that.
I managed to get compensation from the endowment people, £4000 for misselling.
Should i keep the endowment mortgage, pay off £4000 on it, leaving £19,500, or convert to a repayment? It seems a bummer that i have only paid the interest, and if i were to convert would effectively be starting again. The £47000 part has 10 years to run, if I were to convert, I wouldnt want to go beyond that time.
Any advise would be great!
Ta!
Bit of advise if you can............
Part of my mortgage is an endowment, £23,500, the other part is a repayment, about £47,000 left on that.
I managed to get compensation from the endowment people, £4000 for misselling.
Should i keep the endowment mortgage, pay off £4000 on it, leaving £19,500, or convert to a repayment? It seems a bummer that i have only paid the interest, and if i were to convert would effectively be starting again. The £47000 part has 10 years to run, if I were to convert, I wouldnt want to go beyond that time.
Any advise would be great!
Ta!
What goes around - comes around
give lots and you will always recieve lots
give lots and you will always recieve lots
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