Edit: Plan payoff of bond-linked mortgage track before 2028 reset

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Title Notes Why this matters Your mortgage is divided into several tracks. One appears to be linked to government bonds or a similar benchmark (verify the exact track name and terminology). This track's balance keeps growing rather than being meaningfully paid down, and its interest rate is expected to reset around January 1, 2028—possibly January 10 or another nearby date. The reset happens about every five years, so missing the window could leave you with the revised terms for another five-year period. Treat this as a major-priority financial decision. Goal Before the confirmed 2028 reset/exit deadline, decide whether and how to close or refinance as much of this problematic track as practical so it stops growing and you are not locked into a potentially higher reset rate. First: confirm the facts with the lender - Exact name/type of this mortgage track and what it is indexed or linked to. - Current outstanding principal, accumulated indexation, interest rate, monthly payment, and amortization schedule. - Exact next reset date and the last date for acting before it. - Formula/benchmark used to calculate the new interest rate and when the benchmark is measured. - Whether the reset creates a penalty-free or lower-penalty exit window. - Current and projected early-repayment fees, administrative requirements, notice periods, and payoff-quote validity. - What happens if you do nothing for the next five-year period. Research and calculations - Ask your brother about the similar reset he went through this year: process, timing, calculation, documents, penalties, and mistakes to avoid. - Use the lender's written terms to calculate projected balance, payment, and total cost under several plausible reset-rate scenarios. - Compare closing/refinancing now, closer to the reset, and during any reset exit window. Do not assume waiting is better until fees, indexation, deadlines, and rate-setting rules are verified. Possible funding paths to compare - Borrowing against a provident fund or another eligible savings vehicle, subject to exact loan terms and risks. - Asking your father whether family assistance is possible and on what terms. - Refinancing or replacing this track through the existing lender or another lender. - Using available cash or combining sources to close as much of the track as practical. Decision and execution - Compare effective interest, indexation, fees, collateral/risk, cash-flow impact, and flexibility for each option. - Choose the amount and funding source, obtain final written payoff/refinance quotes, and leave enough time for approvals and processing. - Complete the chosen action before the lender-confirmed deadline—not merely before the approximate January 1, 2028 date. Timing Starting June 1, 2027 leaves roughly seven months before the approximate reset. Set earlier follow-ups once the bank confirms the actual date and lead time. Due type none date only date + time Due date Due date/time

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