looking for advice

Have endowment due to mature in two years have statment saying it is worth £18500 at this time.Have £ 18000 outstanding on interest only,owe £7000 in capital&interestwhich we are paying £700. monthly do you think it would be a good idea to cash endowment and put it toward the interest only and just run with the remainder on capital & interest.

Replies

  • dimbo61dimbo61 Forumite
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    That depends on how the endowment is doing and what kind of terminal bonus you might get !
    have you got other savings just in case ?
    What interest rate are you paying on the IO/ repayment part of the mortgage ?
    Any penalities for paying off early ?
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