We have an endowment policy on the mortgage and it is due to mature at the end of next year. Just had the annual update and it is currently at a level to pay off the outstanding mortgage amount.
DH rang them to check and they told him if we wanted to clear it now there would be no extra charges to pay. We could be mortgage free next month.
I think this is a good plan however he says it is due to accrue around £15K possibly if we continue with it to the end of the plan.
AIBU? I think due to Brexit and uncertainty well, it may also go down and the projection is just that. If we paid it now we would already save over £6K in payments over the next year anyway, and would not have to pay any tax on any lump sum.
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AIBU?
To think it is best to pay off the mortgage early
70 replies
Orangeblossom78 · 20/11/2019 14:07
OP posts:
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