Endownment Shortfall

[alih]

We have recently been told by Irish Nationwide that we are going to have a €10,000 shortfall in our mortgage. I'm a bit annoyed to say the least as when we moved to Ireland from Scotland 8 years ago shortfalls were already happening there and I told my broker that I didn't want an endownment mortgage to which his reply was to talk me into one and convince me it was the best way to go. Is there any kind of ombudsman set up for this kind of thing? We only have 7 years to go on our mortgage is it worth paying extra and changing to a repayment mortgage?

 

[col]

Its a difficult call. I had a similar situation 2 years ago and stayed in and my expected shortfall is now greatly improved due to the stock market improving.If you feel comfortable with stocks stick with it, if not get out.