Mortgage ending soon - Shortfall!

Bill_Badger

Our mortgage ends over the next few months (several different advances finish between now and November). Our original mortgage was an endowment type and looks to be about £5000 short of the amount needed. We knew this and decided to let it run as it was since we have pushed ourselves over the last three or four years with paying off additional advances for a house extension rather than extending the term.

Our question is what is the best method to pay off this amount? In addition, we have about £6000 on a loan which is currently on a 0% credit card until January.

Our current mortgage payments add up to about £750 a month and we currently pay off about £400 a month on the credit card.

Suggestions welcome. I hope this is in the correct forum location, as it overlaps on one or two others.......


Before anyone suggests it, we tried to claim on the endowment losses, but we took it out in 1986, two years before the magical cut off point

teapot2

Hi BB, I think you would get more response posting this on the 'mortgages and endowments' board which is the one above this on the list of boards. That tends to be more for advice about mortgage issues whereas on this board there tends to be folk's MFW diaries and progress with overpaying etc.

Good luck with it anyway - afraid I have no advice to give about your question, sorry.