We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
7 Years Left on Endowment Mortgage
hazel1910
Posts: 8 Forumite
Hello,
My partner left me & the kids in August and I want to buy him out of his share of the house. I/we have 7 years left to pay on my endowment mortgage and I would really love some advice on the best action to take to get shut of him and deal with the mortgage:
1) Should I use my savings to pay off the endowment mortgage now?
- or -
2) Carry on paying monthly until the end of the 7 years?
Hope someone can help me, I would really appreciate any help
My partner left me & the kids in August and I want to buy him out of his share of the house. I/we have 7 years left to pay on my endowment mortgage and I would really love some advice on the best action to take to get shut of him and deal with the mortgage:
1) Should I use my savings to pay off the endowment mortgage now?
- or -
2) Carry on paying monthly until the end of the 7 years?
Hope someone can help me, I would really appreciate any help
0
Comments
-
Can you afford to both buy him out and pay off the mortgage?0
-
Who is paying the monthly endowment policy charge? Who gets the proceeds of the endowment policy?
You would need the lender to agree to take his name off the mortgage and you would also want to take his name off the deeds.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards