Mortgage repayment help

[zither]

Mine is a long story but my main problem is Im after some cover to pay off my mortgage in about 15 years time. I had an endowment but had to cash it in a while back to sort a family problem out. My main intention was to sell my house to cover the mortgage when the interest only mortgae runs out about 15 years time. My wife has asked me to post on here to see if there are any other options to selling the property. I know many other people are in a similar position to us and would appreciate any help. By the way, we are 50years old so time is creeping up on us!.

[Glasto Girl]

Hi Zither,

 

This kind of advice (I assume you are talking about investment products such as bonds, endowments, ISA's, pensions etc) would be the type you need to consult a financial adviser about as it is regulated. People on here might be able to give you information but I would recommend trying to find a professional. Try the website to find an independant financial adviser in your area.

 

It is certainly possible to take out an investment product to run alongside your mortgage but with only 15 years remaining on the term it might be expensive. A financial advisor can look at your whole financial position to see if it's the best option for you or whether you might be better off switching to repayment etc.

 

Hope this helps

 

GG

Edited June 16, 2010 by 42man