selling endowments?

efiste2

can anyone offer advice on selling/ cashing in our endowment policy, it was used as part of our mortgage but we have changed to a repayment.
it has been running over ten years and want some good advice on the most lucrative way of cashing it in please? :-/

joeo2000

well I cashed my mis-sold endowment last year and the life company offered me 20% less than I had already paid to the policy saying that they had given me life cover for x amount of years,not happy I checked out my option and was advised by my mortgage provider (the Woolwich) that third party companies would offer even less thats if I could find one interested.Anyhow,I did contact third party companies which I did sell to for 10% more than I had paid to the policy.There were bonuses attached to the policy from the earlier years but nothing massive.Now,looking back I feel I did the right thing.the money I recieved for the policy paid off a chunk of my mortgage and gave me a chance to switch to repayment for a monthly payment which was similar to what I was paying when I had the endowment and that was just covering the monthly interest .
many money sites have advice on this (moneyfacts)and some also provide links to such companies.
just make sure you have exhausted all possibilities before you sell.(IMHO)

Ps.I drive trains for a living giving financial advice is the job of another,but for what its worth.
good luck.

efiste2

Thats great advice thanks! ...............can anyone (if allowed on here) suggest any good endowment policy buyers?