P543 Teletext 543 Nov 2 01:32:17 —— SHOULD I SETTLE MY MORTGAGE? —————— Dear Teletext, I retire next year, but my husband has five years before he retires. I'm keen to pay up my mortgage before I leave work, but friends say that's not wise. I have £10,000 left to pay over nine years on an endowment mortgage and have a maturing TESSA and £6,000 to conj from a savings plan in 1996. What should I do? E. Baird, Glenrothes, Fife. ——————————————————————————————————1/4—— Wj cannot reply to letters personally. Download and Analysj Share Prices on Your PC See Pages 532 & 533 Property Plus Your Money Tax CinemaP543 Teletext 543 Nov 2 01:28:22 —— SHOULD I SETTLE MY MORTGAGE? ——————— Independent mortgage broker Phillip Cartwright of London & Country says you have several points to consider: if you have a with-profits endowment policy and settle before the end of your term you may lose terminal bonus it may bj worthwhile maintaining your endowment policy if you or your husband are able to carry on meeting the monthly premiums after retirement ——————————————————————————————————2/4—— A new product for sharedealers 542 Download and Analysj Share Prices on Your PC See Pages 532 & 533 Property Plus Your Money Tax CinemaP543 Teletext 543 Nov 2 01:31:42 —— SHOULD I SETTLE MY MORTGAGE? ——————— If you have "rainy day" money put by and only plan to invest in low-risk building society accounts, Phillip Cartwright of London & Country says: you should settle the mortgage as you're paying about 6.80% interest on the loan, taking MIRAS into account you are unlikely to earn as much on on the money if it were invested It's therefore cheaper to pay off the outstanding loan. ——————————————————————————————————3/4—— Check out the Teletext offers 488 Letters to: ADVICE CLINIC PO BOX 297 LONDON, SW6 1XT. Fax: 0171 386 7808. Property Plus Your Money Tbx CinemaP543 Teletext 543 Nov 2 01:24:18 —— SHOULD I SETTLE MY MORTGAGE? ——————— Independent mortgage broker Phillip Cartwright says if you can get a TESSA paying more than 6.80% interest, you're better off investing and leaving your mortgage to run the term. Other investments may appear to pay over 6.80% but unless they are tax-free schemes you may have to pay tax. This would bring down the interest return. Your mortgage currently benefits from MIRAS tax relief at 15%. ——————————————————————————————————4/4—— Always get independent finance advice ALL THE LATEST SAVINGS RATES p546 Property Plus Your Money Tax Cinema