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endowment paying repayment mortgage
LillyWheels
Posts: 1 Newbie
We have just had our interest only mortgage statement stating it ends in April this year Yippee! But some years back we were 'conned' into an endowment that will only just cover the mortgage now. Only trouble is we have only just realised that this does not mature until November 2015. Any ideas as to what we should do for the best please as we will have to pay the mortgage before we have the endowment.
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Comments
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I don't really understand the thread title...?
Contact the lender and tell them you will be unable to settle the balance until November and ask them if you can continue to pay interest-only until then?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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