Endowment matured do I have to pay off mortgage with money

Jubac45

Have received endowment at maturity date but didnt pay anything off my mortgage?
I paid other debt off!!
Is this illegal?
Should I contact bank!
Will they ask me to sell my house?

Thrugelmir

How do you intend repaying your mortgage then?

You have entered a contractual agreement to repay. So lender dictates the terms if you default or what extension will be offered.

Most people just to see the back of their mortgage. As once its paid off. Then no longer a worry.

Jubac45

Probably best to speak to bank then?

R_P_W

Bit more info would be nice!

Balance left to pay? Term?

How are you planning to pay the capital back?

opinions4u

Jubac45 wrote: »

Have received endowment at maturity date but didnt pay anything off my mortgage?
I paid other debt off!!

Fine. As long as you can pay the mortgage when due.

Is this illegal?

No. But it's potentially very stupid if you can't pay the mortgage off when due.

Should I contact bank!

If you won't be able to meet the commitment, yes. If the money is sat there to clear your mortgage when due there is no need.

Will they ask me to sell my house?

Ultimately they could kick you out and sell it for you.

I'd get talking to them.