Woolwich Open Plan Mortgage!

Ian_W

Al Mac wrote:Also, see a financial adviser, you need to, for the future.

A most important peice of advice, montycat, and before you decide what to do about the mortgage - IMHO.

You have suffered a tragic loss, don't know how recent and now might to too soon, but the money that has left you and your children "well provided for" has to work hard for you for some time to come.

Whether you pay off some or all of your mortgage has to be part of the bigger picture. Most of us will be glad to see the back of our mortgage but we forget that it's, generally, the cheapest of our debts - so if you've your own earnings it might be better to keep part of it you can afford and pay off more expensive debts, if there are any.

But you need to look at your finances in the short, medium and longer term with professional financial advice. Obviously, finding an IFA you can have confidence in isn't easy. Personal knowledge & family recommendations are best and if you or your late husband were in a Union or Staff Association they may be able assist.

In the meantime leaving the money in the Woolwich will negate any interest owed on the mortgage and, providing it pays reasonable interest on any surplus, is the right thing to do until you've gotten advice.

Very sorry to hear of your loss, hope things work out as well as they can for you & your children.