Hello

On 28th February 2008 our 3 year fixed mortgate (4.9%) with Stroud & Swindon will come to an end, leaving an approximate balance of £82000.  We will have a greatly depleted  Standard Life endowment policy coming to maturity in August 2008 - this will give us a miserly £38000 (approx) out of a £51000 endowment (with "promised" extra £30000 which we will not see).  Is it best for us to go onto a variable rate mortage for the first 5 months, repay a lump sum of £38000 (or however much it will be) and then go onto another fixed rate?  What about a tracker?  Can you pay back lump sums without penalty at any stage?

 Any help greatly appreciated.

 Regards

Maureen Fry