We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
endowment mortgage
anthonyjohn_2
Posts: 1 Newbie
I have 7years to pay on my endowment mortgage (SVR) of £100/month. I intend purchasing new property and will have a new mortgage of approximately £100,000. What do i do with my present Mortgage? Continue to pay it?
0
Comments
-
You need to treat the endowment and the mortgage as two different things. Then you can marry them up and do a bit of mix and match.
If you are happy with the endowment and intend to keep it running, you put that part of the mortgage on interest only. With the increased borrowing, you part that part on captial and repayment. Mix and match mortgages are very common and the lender will quote accordingly for you.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards