Paying off mortgage question

Roomer

Dear All,

I took out my mortgage in 1993 for 63k property on a 68k property putting down a deposit of 5k, I took out an endowment mortgage with Bradford and bingley and have been paying approx £535pm since 1993 with and endowment premium to pay off the 63k 2018.

I have recenlty come in to some funds (saving and winnings) which totals up to just about 63K, I want to use these funds to pay off for my mortgage and be mortgage free.

what are my options?

i.e should I pay off my mortgage and continue to pay into my endowment policy or see how much my policy is worth and pay the difference?

Many Thanks is advance for your replys.

H

homer_j_3

I am sure one of the FA's or savvy investors will be along shortly but I think you need to get a current valuation and projection on what you will be looking at if you were to continue.

So:

Endowment Company Name:
Current Value:
Monthly Premium:
Projected Valuation:

I think this should allow us to work out what the performance is like on the policy and how that compares to other investments out there at the moment.