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mind boggle

Help, I have 45K in endownments. £111,000 mortgage currently on an interest only deal. All of them end in 7 yrs 7 mths. Not sure how to go about paying of the remaining debt as cannot afford to go back on part repayment. Have two mortages for the one property.

Its feel like its not long and what options will i have if i find i have to take out a new mortgage for the 66,000 left in 7yrs and 7 mths time?

Comments

  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Can you afford to overpay the mortgage by a couple of hundred pounds a month now ?
    Every little helps as they say at Tesco,s
    We dont now your age or income and how long until retirement! Do you live in a big house and will you sell up and downsize when you do retire?
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    How old are you?
    Whats the income?
    Whats you retirement income?
    Whats the place worth?
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