Paying Off Mortgage Dilemma.......

Ricky

Could anyone please advise me?
Our joint mortgage, covered by endowment policies, is due to finish this year!!
However, there will be a shortfall of probably £4000, at the best - we have, in the past, paid off a lump sum, and are currently overpaying each month, which has definitely helped lessen the shortfall.
My husband is 60 years old and wants to still work after 65, but obviously less hours.
Our dilemma is, is it better to:
*ask the mortgage lender to extend the mortgage for a short period, up to a year, to allow us to clear the mortgage, thus paying a larger sum per month
*ask the mortgage lender to extend the mortgage for a longer period, over several years, thus paying less per month, and giving us more money to save and for holidays
*deplete our small savings by using them to pay off the mortgage completely
*borrow money from one of the credit card companies, who are offering low interest balance transfers for life, to use to pay off the mortgage
*or, a better suggestion that one of you experts can offer!!
I do appreciate any offers of advice.
Thank you.

dougk_2

Personaly I would pay the mortgage with the savings and then start saving up... you won't be paying intrest and you know everything earnt is yours