Pay off mortgage early but keep endowment?

Sulkybumblebee

I have a mortgage of £62 000 split between endowment and repayments which has 3 years to run. I have two endowments due to mature in September next year, giving me approximately £16, 200 and £27 000. I invested in an ISA Maxi when I was informed about the projected shortfall. I have cashed this in recently as we are wanting to move next summer and I feared it would lose value during this year, so I have £70 000 sitting in my bank account not making any money. My inclination is to pay off my mortgage, but retain the endowments since I am so close to maturity. I'm just looking for help really to decide if this is the best decision. Any thoughts?

Thrugelmir

What rate of interest are you paying on the mortgage currently?

Sulkybumblebee

I am paying 3.79%

McKneff

I think I would be paying the mortgage off to be honest,

I bet you get nowhere near 3.79% interest on your savings.

makemesumdosh

I would also clear the mortgage. if you are looking to move next year the proceeds from your house sale will go towards a new mortgage.

rates are very low so you can shop around for a new deal and get a great deal.