I have interest only mortgage but no endownment policy. Do I just need to pay back the original mortgage amount as the interest is being paid?
The mortgage is with Santander and is only for £15,000 as part of a shared ownership policy. The endownment policy was cancelled some time ago and was never replaced. As the amount is quite low I just want to check that I only have to pay the £15,000 as the interest is being paid monthly? Thank you.Report