Is it worth it?....
in Mortgage-Free Wannabe
3 replies 614 views
I have lurked on this board for a long time, reading in awe what people manage to achieve. I know generally paying off your mortgage early is sooo worth it, however I have only 18 months left on mine. Originally it was all on interest only but about 6 years ago I put some on repayment as our endowment was going to be a shortfall. Now the endowment should cover the remaining interest only part with a few thousand left over, so although I want to do it Im not sure how great the saving would actually be. The interest only bit is only 14k now and the endowment even with the shortfall should reach at least 20k. Is it worth scrimping at this stage with such a relatively low mortgage and short term left? Any thoughts/ advise would be welcomed. I'm not really financially savvy although would love to be.:)
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