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Amber Letter Received
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hansi
Posts: 3,001 Forumite
Just got an amber letter from Prudential saying that my shortfall is likely to be 2.5K at 6% growth per year. That's not a problem to me as I will have the necessary cash to pay the shortfall, but approximately how much would it cost to convert this 2.5k to a repayment mortgage. I have six years left on the mortgage, and I know I'd have to apply to the lender for the exact rate, but just wanted a guesstimate. At present I pay £122 per month on a 26k loan.
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Why not see if you could just make monthly overpayments to your mortgage (depending on the type / restrictions applicable)??
cloud_dogPersonal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Instead of doing that, would I be better making regular monthly payments into a savings account now that they are giving better rates, any suggestions for such an account?0
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