From interest only to repayment

Is it a good idea to change from interest only to a repayment mortgage even if it means paying it would be tight? But I would know that I was paying it off and have possibly more peace of mind.

Replies

  • black_taxi_2black_taxi_2 Forumite
    1.8K Posts
    Debt-free and Proud! Mortgage-free Glee!
    ✭✭✭
    i had an endowment mortgage--kept getting letters--shortfall

    switched to repayment--best thing i ever did

    you know exactly where you stand financialy
    £48515 interest £181 (2009)debt/mortgage-MFIT/T2/T3
    debt/mortgage free 28/11/14
    vanguard shares index isa £1000
    credit union £400
    emergency fund£500
    #81 save 2018£4200
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