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Should I change my endowment mortgage to full repayment or just part of it?

Posted on 10 January 2013 by Tracey


I have 4 years left on a endownent policy and want to remortgage. Should I consolidate all of it to repayment or keep the endowment(it will cover the balance it was taken out for) and just have the new balance on repayment?

Tracey,

A lot of what you decide to do will be down to the monthly payments you will be comfortable paying. You could look to just move the shortfall amountv to repayment or move the entire amount over to repayment, it really does depend on the afforadbility, and without exact figures it is impossible to offer you any further guidance.

If you'd like to discuss your enquiry in more detail, then please let me know and I'll arrange for you to speak to one of our consultants.

Regards,

Simon

simon.collins@johncharcol.co.uk

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Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

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