Hi Adey,

Thanks very much for advice !

Regards,

nmcg.

Hi nmcg,

Welcome to the forums - my advice to you would be to re-mortgage as soon as possible, converting the whole lot to capital repayment - if you stay as you are you will pay over £38,500 in interest, but if you could convert to cap repayment NOW at say 5.99% (ING Direct, no fees, no tie-ins, etc) total interest payable would be £24,500, a saving of over £14,000 during the rest of the term - total monthly payment will go up from £331 to £440 a month, but you will be safe in the knowledge that you will own the house in 13 years 7 months time, and you will have a nice lump sum in your endowment to spend as you wish. Hope this helps.

Regards,

Adey

Hello,

First time poster (if that's the term?) and I've got a problem regarding mortgages..

My situation is as follows:

  13yr and 7month £49K approx mortgage made up of £33k interest only @ 6.39% and £16k repayment @ 7.75 %

I'm currently paying £175 per month to the interest only account, £156 per month to the repayment a/c and £62 to an endowment policy. I've been advised that my endowment policy will have a shortfall of £11k if I continue as I am.

I think the above is not the best deal I could get and I'm thinking of changing to one total repayment policy and would like to find out what group offer the best option in relation to fee charges and interest rate options. 

Any suggestions ?

 Thanks,

nmcg.