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endownment selling can anyone help
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rosie100_2
Posts: 3 Newbie
Can anyone help need to reduce outgoings thinking of selling endowment to clear debts or am i better paying of the sum of my mortgage or keep going debts will decrease sure but slowly then edownment is ours as had to swop to repayment HELP PLSE .
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Comments
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If your mortgage is now repayment, then your endowment is probably not needed. Do check whether you need to replace the life cover before selling it.
Whether it is better to use the money to clear your debts or reduce your mortgage depends on the interest rate you are paying. The higher interest rated debt should go first.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
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