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Endownment, what to do now, please help!
Comments
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Thanks Edinvestor
WOW! :j
£30K if I offset it against the mortgage with the premium, it seems like this is the best course of action as the last forecast I had for maturity was £23k.
Does anyone have a different opinion?
Many thanks guys!0 -
Sorry Edinvestor,
Quick question about the technicalities;
My offset mortgage is linked with my First Direct current account and my First Direct Savings account; are you saying I should put the £12k (surrender value) in one of these accounts (probably savings) or are you saying put it into the mortgage account to reduce it, bearing in mind any money in my savings would probably impact on benefits such as Tax credits.
Cheers :beer:0 -
In that case, sounds as though it's best to use it to reduce the mortgage directly, rather than offsetting..Trying to keep it simple...
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