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Should we pay off our mortgage? (further thoughts)

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Melody Posts: 4 Newbie

2 September 2007 at 3:21PM in Mortgages & endowments

A while ago we posted a request for advice re our 67K mortgage. Here are the details of our endowments (no longer tied to the morgage). Together with savings we could (just) clear the mortgage, but don't know if we would be wiser to wait until the endowments mature in 5 years time. The mortgage has 13 years to run.

The endowments are outlined below. Advice please.

Provider Scottish Amicable (now Pru)
Guaranteed sum assured £5693.110
Declared bonuses £1044.795
Surrender value £8571.06
Monthly premium £53
Maturity date 2/3/13
Maturity forecasts[/quote]
4% £14.400
6% £16.600
8% £17.700

Provider Prudential
Guaranteed sum assured £10800
Declared bonuses £8350.29
Surrender value £19503.40
Monthly premium £54.60
Maturity date 1/11/12
Maturity forecasts[/quote]
4% £28000
6% £30800
8% £33900

Provider Prudential
Guaranteed sum assured £3700
Declared bonuses £2204.49
Surrender value £6080.40
Monthly premium £20.50
Maturity date 1/3/12
Maturity forecasts[/quote]
4% £8380
6% £9210
8% £10100

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Should we pay off our mortgage? (further thoughts)

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