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figures for paying off mortgage?
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panny300
Posts: 109 Forumite

i have £9200 left on my mortgage with no early payment penalties,and have a prudential endowment from a previous mortgage that started in about 1988 and finishes in april 2011.
the surrender value is 10,450,the monthly endowment is £22,my interest mortgage payments are £58 a month (isa endowment running alongside which i will carry on).
so over the 3.1/2 years left on the endowment i will pay £3360 mortgage and endowment payments,the forecast on the endowment is £12300 at 4%growth or £14400 at 8 %,it looks like i will be paying as much in,as i would get back,or would there be any terminal bonuses as well on top?
A pamphlet with the surrender values mentions something about reattribution of the inherited estates of with profits sub fund? and that it may affect any payment if i cash in,anyone know anything about this.
so do i pay off mortgage?
the surrender value is 10,450,the monthly endowment is £22,my interest mortgage payments are £58 a month (isa endowment running alongside which i will carry on).
so over the 3.1/2 years left on the endowment i will pay £3360 mortgage and endowment payments,the forecast on the endowment is £12300 at 4%growth or £14400 at 8 %,it looks like i will be paying as much in,as i would get back,or would there be any terminal bonuses as well on top?
A pamphlet with the surrender values mentions something about reattribution of the inherited estates of with profits sub fund? and that it may affect any payment if i cash in,anyone know anything about this.
so do i pay off mortgage?
0
Comments
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Personal opinion only but I would.I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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thank mr helpful,does anyone know about the reattribution of the inherited estates of with profits sub fund? this is the only thing now stopping me paying off my mortgage.0
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