As a self- employed person, she will be liable to pay class 2 and class 4 national insurance contributions. Tens of thousands of borrowers have taken out interest- only mortgages with no means of repaying their debt. Sarah beeny on investing abroad.

Guides: all you need to know about mortgages. Insurance payment protection. What will my endowment statement letter tell me? But, at the moment, relative to british property prices, it’s very cheap to buy abroad. Charcoal mortgage broker. The appeal is that buying abroad in many parts of europe feels very cheap to us in the uk. However, with some lenders there is a minimum amount you are allowed to overpay.

It works just like a normal personal loan - each month, you pay back some of the original capital plus interest on the outstanding balance. Tools take the debt test. Is buying abroad a short- lived fad or is it a market with longevity?Fix your mortgage for 15 years. And knock more than six years off the life of your mortgage.

Experts & advice compare & buy. All these are set out in the kfi too. You may find that one of the options already matches your existing repayment arrangements. Making repayments in this situation is unwise.

These come in the usual variety, with discounted, fixed and tracker rates available. In 2003 the government estimated that about eight in 10 of the endowment policies then in force were unlikely to pay off the mortgages they were taken out for. Most lenders require you to have built up some overpayments first. Is an offset or current account mortgage right for you? She divorced more than ten years ago and has two daughters and a mortgage to support. Although anne has considered using her redundancy to clear the mortgage, she prefers to have savings and regards a mortgage as cheap borrowing.

Borrow extra sometimes called 'loan drawdown'. Her other savings consist of 200 shares in friends provident and more than 3, 000 shares from standard life after its recent demutualistion. She has no debts. Alternatively, you can obtain one by calling the fsa on 0845 456 1555. However, the financial services authority fsa said that about 700, 000 people had still done nothing about their endowment shortfall. Change to a repayment mortgage later. But i would tend to keep them separate from her occupational arrangements. But check there are no redemption penalties first.

For more on the housing market visit www. Timesonline. Co. Uk/mortgage. Instead you pay less interest on your mortgage. Its appeal shows no sign of diminishing buying in greece. Her isa could then go towards her retirement.

She is thinking about downsizing from her £250, 000 home in knutsford, cheshire, and dreams of moving to a smallholding with friends when she retires. These are no longer popular. For news and views on the housing market and your chance to add your comments visit the blog. Please read our privacy policy.