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What would you do?
inkie
Posts: 2,609 Forumite
We have outstanding mortgage of £11,850.xx at 4.99%, and are currently overpaying £320 per month to get rid as quick as possible. We have managed to resuce this from £29K over the past 18 months.
We have about £14K in ISAs/Savings.
We have several 'whole of life' policies which we are paying out c£120 per month in premiums. Out of curiosity, I have been looking at their surrender value, which would be over 12K.
Bearing in mind that we can get cheaper life policies these days - what would you do? I am really tempted to cash the policies in and pay off the outstanding mortgage - don't want to touch the savings. But secure a new whole of life policy first.
TIA Inkie
We have about £14K in ISAs/Savings.
We have several 'whole of life' policies which we are paying out c£120 per month in premiums. Out of curiosity, I have been looking at their surrender value, which would be over 12K.
Bearing in mind that we can get cheaper life policies these days - what would you do? I am really tempted to cash the policies in and pay off the outstanding mortgage - don't want to touch the savings. But secure a new whole of life policy first.
TIA Inkie
0
Comments
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Cash them in pay off mortgage if you have other savings elsewhere and then enjoy being mortgage free, as ive read its always the last £10000 that takes the longest! :beer:0
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