Scottish Widows / LTSB Level Mortgage Plan

speedy_gonzales

I am after some advice please

My Wife and I both have these policies that were purchased in December 1996.

They were projected to cover £22,875 each in December 2021 when our original mortgage came to an end.

The annual statement for 2008 advises that each policies current value is £4207.17 which is based on owning 451.947 units @930.90p per unit on 8th July price.

The current premiums are £32.46 (wife) and £32.57 (me) per month.

My questions are

• Is this the type of policy that could be sold to a 3rd party
• If so - any recommendations of whno to try to get quotes for its surrender value

thanks in advance

speedy_gonzales

Just wondering if this ia sctually worth any more than the figure quoted on the statement. It is unit based so if someone wanted to invest they could simply buy the units at today's price rather than offering me more for my plan?

Is my logic correct?

thanks for any advice

dunstonh

Is this the type of policy that could be sold to a 3rd party

No. (its unit linked)

It has a daily value and therefore no-one will pay more than its daily value when they can buy the units themselves if they wanted them direct from Scot Wid for the daily price.