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How to pay my mortgage off..
Obarney
Posts: 1 Newbie
Any ideas please; I Have a part repayment mortgage which ends next month, along with an endowment mortgage for £31000 which runs until June 2015, and is looking at paying out around £23000.
The b/s has said i could continue paying the interest only of £128 a month until the endowment comes out; i would still have to then save to be able to pay the extra that the endowment has failed to reach.
I wondered if taking a loan or remortgaging for £30000 to pay the current mortgage was feasible; i could then either pay off £23000 next year or continue paying the mortgage and buy a motor home with the endowment money? (The mortgage amount would be approx the same as my current payment, though for another 8- 10 years)
Cheers
The b/s has said i could continue paying the interest only of £128 a month until the endowment comes out; i would still have to then save to be able to pay the extra that the endowment has failed to reach.
I wondered if taking a loan or remortgaging for £30000 to pay the current mortgage was feasible; i could then either pay off £23000 next year or continue paying the mortgage and buy a motor home with the endowment money? (The mortgage amount would be approx the same as my current payment, though for another 8- 10 years)
Cheers
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