Mortgage advice needed , mad idea or not ?

Foxy-Stoat_3

sunrise27 wrote: »

anyone got any other ideas we don't want it to cost us a fortune but are keen to help the children of we can ?

If you dont want it to cost you anything, why not downsize 15 years early?

sunrise27_2

Because we like our house lol and would like the grandchildren to grow up in the same house as our children , crazy I know

sunrise27_2

The abbey can do it , the repayment bit is fixed for 2 years at 1.89 % the interest only bit is fixed for 18 months at 2.79% , as We have no idea what will happen to interest rates in the next few years but I do have a plan B in place in case they rise , do you think its a good idea to do this ? Sad that we're only 4.5 years away from finishing our mortgage but would be brilliant to help the children out , and in five years when the repayment bit is paid off , we'll still be better off each month and when the times comes we can downsize and pay it off altogether , opinions please x and the abbey are happy for us to gift the money to the children