what to do with matured 20k endowment

sirspread

i have a 50k mortgage which will need paying in 2019
i took out 2 endowments one for 27k (1989) and one for 24k(1994)
the 27k endowment has now matured for 20k
the 24k one still has to 2019 to run (it is projected to pay about 15-16k when complete)
would it be best to try and pay 20k off the mortgage (which is only £63 a month) or reinvest it till 2019
i also have another fund with invesco which is currently worth about 22k this investment is not connected to the endowments and was something i invested in a few years back
hope that all made some kind of sense

xylophone

Is this a repayment mortgage or interest only?

What is the interest rate?

How much is the mortgage for?

enthusiasticsaver

Personally I would pay it off the mortgage now. If you reinvest it in stocks and shares now there is no guarantee that it will be worth a great deal more than £20k in 4 years time and could in fact be worth a lot less.


It does depend however on your mortgage interest rate as if you could put it into a safe account (current account) paying 3% or 2.4% net and your mortgage interest rate is less than that it may be worthwhile.