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middleway

Mortgage Isa Falling Short Is Do I Need A Bailout Strategy?

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Hi all,

Just joined, had a quick question if anybody knows about such things.....

bought my 1st house in 96 for 49K (those were the days) and got sold

an interest only mortgage with a PEP (now ISA) "investment" vehicle

to repay it.

12 years down the line the "amber alert" letters have started coming in

I'm not that stressed about it actually covering

the final principal, as i overpayed by 50% right from the start

(this bit not accounted for in the amber alert)

My plan is to try and work out a reasonable share unit price at which i should bail

out of the whole thing (clearly not going to be for a few years) and move

into something a bit more certain (i.e pay off a lump of the mortgage) is this a

good plan?

I know this isn't an endowment, but they seem just as sh1t and i didn't have clue

really what I was being sold at the time other than, "pay this a month and it will pay back your

mortgage and probably give you some extra on top" do people claim for misselling these or

is it just endowments?

Edited by middleway

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  • 396 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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