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To cash in an endowment and pay off the mortgage?
mozzchops
Posts: 2 Newbie
We have a mortgage left of around £18k.
We have 2 endowments: 1 worth around £4.5K and another with a cash re-sale of around £22k
The larger one has around 2.5 years left to run and has been projected at either £25/£27/£29k dependent on what the growth will be.
The question is should we cash in and pay off the mortgage or not? It seems we are struggling every month due to the cost of the darn thing, when we could be saving money each month.
Thanks
We have 2 endowments: 1 worth around £4.5K and another with a cash re-sale of around £22k
The larger one has around 2.5 years left to run and has been projected at either £25/£27/£29k dependent on what the growth will be.
The question is should we cash in and pay off the mortgage or not? It seems we are struggling every month due to the cost of the darn thing, when we could be saving money each month.
Thanks
0
Comments
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Anyone got anything to add?0
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Without knowing your full financial condition no one can answer this. I think u should consult an IFA to get some professional advise.0
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If you are struggling every month, and if there are no full term bonuses due on the endowments, then cash them in and pay it off.0
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