One Account V Parents Investments

jennywren91

We currently have a one account balance of £150k that has 9 years to run. We have a couple of old mortgage endowment policies which mature in a couple of years and with realise about £60k which is short of what we were sold years ago. Alas we have extended our house which is currently valued at £300k and currently pay the one account around £1500 a month ...ouch! Our parents have invested cash of £100k at various sources that gives them a income of no more that £500 a month. Would we be better cancelling their investments to pay off our remaining mortgage and cashing in our endowment polices thus making us mortgage free and paying them say £700 a month for the next 10 years. they are in their late 70's and just want the best for everyone and one of them will eventually live with us if one of them passes away. This way everyones a winner and we will all have more money and peace of mind. Any suggestions welcome....ps. We all get on great and just want to make money work for everyone!

Thrugelmir

Maybe time for a family conference to discuss the issue fully.