I have a part repayment and part interest only mortgage which finishes in 3 years but will have a larger interest only part outstanding.
I have an endownment policy but it wont cover the whole interest only amount .
the figures are
current balance £46k
interest only £35k
I want to pay some off say £6k now does it come off the interest only amount or the repayment amount.
thanks and i hope this makes sense
I have an endownment policy but it wont cover the whole interest only amount .
the figures are
current balance £46k
interest only £35k
I want to pay some off say £6k now does it come off the interest only amount or the repayment amount.
thanks and i hope this makes sense