Mortgage Advice

[baden-baden]

I have 15k and 20 years left on my mortgage.

I think I should borrow this as a personal loan maybe over 2 or 3 years and pay off now.

This route seems obvious so am I missing something?

I will ask a professional as well but all suggestions gratefully received.

Thanks,

B-B

[buildersmate]

You're missing something - you won't get a persoanl loan on anything like as good terms as a mortgage, in terms of interest rate.
Why don't you just ramp up the rate at which you pay your existing mortgage? - as and when you can afford the do it.
Check the terms of your mortgage - some of the less scrupulous ones only deduct any overpayments once per year - so the extra money is sitting there without taking down the capital sum.
I did this a while back with my HSBC mortgage - who calculate the interest on a daily reducing balance basis. I paid off �1000 extra here, �500 there - as and when I could afford it. Paid off a 25 year mortgage well inside 15 years.

[baden-baden]

Thanks buildersmate - I'll give it a go.

B-B