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To Pay or not to Repay

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terrierlady
terrierlady Posts: 1,742 Forumite
in Mortgages & endowments
my brother has an endowment mort; its in the red like so many others, due to a windfall he has the cash to pay it off now completely. admittedly is only has five more years to run but would this be the best thing to do i wonder?
its only £47k in total.
my bark is worse than my bite!!!!!!!!

Comments

  • Mortgageman
    Mortgageman Posts: 158 Forumite
    What would he do with the money otherwise?
    What is his opinion on risk?
    How does he feel about his endowment mortgage at the moment?
    Maybe he could pay some of it off..?
    I work for a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    ( I have ammeded this signature slightly, as I do not actively provide mortgage advice. However, I support and adhere to the moneysavingexpert mortgage broker code of conduct)
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