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Do I keep my mortgage going?
blueflyingtonight
Posts: 106 Forumite
We have about £4000 to pay on the mortage and could pay it off with a lump sum:j. We are thinking if some building work that will cost about £10K. Do I keep the mortgage alive by reducing monthly repayments and up the loan to finanace the building work? I guess the interest rate will be much better than taking out a separate loan.
Thanks
Steve
Thanks
Steve
0
Comments
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Keep the money for the building works IMO. If you don't have the money in order to complete the building works without borrowing that keeping the mortgage to fund most of it will be the cheapest option.0
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