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Ways to pay off interest only mortgage

jowest312 · 2015-07-09 21:52:32

Hi Since I took out my mortgage about 6 years ago, I have life insurance policy that will pay a lump sum when either myself or my husband dies, this will be used to pay of the mortgae but I was thinking is there another option where I can still be insured but if we are still around in say 25 years time the money paid in…

Comments

dimbo61 Posts: 13,727 Forumite

14 July 2015 at 1:45PM

Every week we get posts on here from posters close to retirement with large interest only mortgages which must be paid when they reach 65 and no way of repaying on a pension.
Tough decisions must be made now.
you have given no figures 're outstanding mortgage or income But the banks only lend if you have the income to repay.

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