Mortgage ending- shortfall questions

HarryS

Hi all,
Our endowment mortgage ends in September with a shortfall of approx £17,ooo (upsetting but a fact).
Can anyone advise the best way to fund the repayment of this please?
Hubby is 74 & I am 57, house is worth £350,000. We have no life insurance other than the endowment
I have no income other than carers allowance, hubby has state pension, private pension and attendance allowance
The mortgage company have said they will give me a mortgage until retirement age, but cannot discuss figures until insurance company give final figure for endowment
Ideally any loan needs to be in both names with insurance to cover but this will be expensive I guess
Any help appreciated. Thanks

Thrugelmir

Can you afford to repay £17k over the next 8 years or so.

At a 5% (used as a guide) interest rate that's around £215 a month.

Have you considered selling up and downsizing?

HarryS

Yes, downsizing has been considered but it is not something either of us want. We have lived here for 25 years, it would be a hard choice, albeit the most sensible.
I am frustrated that we were definately mis-sold the endowment but I can't prove it