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Mortgage reserve
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Economist24
Posts: 1 Newbie
I have a mortgage reserve of £30,000 to pay of by the end of my mortgage in 9 years. I am paying some money towards it but the interest is extortionate so am only paying off some of the interest and not touching the capital. Is it better to consolidate reserve with the mortgage and pay everything off together or get a loan to pay of the £30,000
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In principle yes. A lot more information would be usefull to provide any meaningfull suggestions.1
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Always best to avoid extortion. So if you can refinance to a less usury rate why not?Economist24 said:I have a mortgage reserve of £30,000 to pay of by the end of my mortgage in 9 years. I am paying some money towards it but the interest is extortionate so am only paying off some of the interest and not touching the capital. Is it better to consolidate reserve with the mortgage and pay everything off together or get a loan to pay of the £30,0001
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