Your advice, please....

steve700

I have a £60,000 mortgage - 45k on endowment and 15k on repayment, with 6 years left on my endowment policies.

Would I generally be better to:

go for a 2 year (5.79%) fixed rate - 10% overpayment allowed

a 5 year (5.99% rate) to almost take me to the end of the mortgage - 10% overpayment allowed

or a 2 year (5.54% rate) tracker - Overpayments whenever

I plan to go £30k each on endowment and repayment to ensure that my 50k expected payment policy easily covers the amount outstanding.........

I know it's personal choice but what option would you take?

Thanks

Steve

EdInvestor

Are your endowments worth keeping (some are, but many are not) or would it be better to use the money to reduce the loan right now?Post some info so we can see:

Endowment Provider
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly payment
Maturity forecasts
Maturity date