Finishing Mortgage

Bigvern_2

Hi
My mortgage is due to finish in November of this year. During the past 24 years I have moved house 3 times and my method of repayment consists of 3 Endowments an ISA plus savings of around £21000. (Due to endowment shortfall)

1 Endowment has finished and another will by the end of this month. On average the ISA is only making sligthly more than I am putting in each month and mortgage fees are around £68/month.

Although my fees are relatively small and easilly affordable I feel I may be better off cashing everything in and finishing the mortgage ASAP. Alternatively, should I remortgage the £21k shortfall at a fixed rate over, say, 10 years whilst interest rates are so low.

Thanks

Martin

kingstreet

If your investment return is less than your mortgage rate, you'll be better off paying off the mortgage when your second endowment matures soon.