Endownment with Countrywide Assured

Richardn

Hi,

Can anyone help me please.

I have an endownment with the above provider that has been running for just under 10 years on a 25 year term

I last got a value a few months back and it was £7,400, the value today is only £6,600:eek: . Total paid in is £9,300.

I am seriously thinking of cashing it in and putting against my One Account mortgage along with the £75 monthly premium which will shortly have an interest rate of 6.1% after rate cut. Our current outstanding balance is £22,000.

I know there are some very clever people on this board and was hoping for some help and advice as to the best thing to do

Thank you

mic200202

The problem with endowment values is that they will give you a surrender value which is not a true reflection of the actual value of the investment if that makes sense.10 years into a 25 term is nothing for this type of policy.You need to look at the annual statements that come in which can tell a bit more you can see what the trends are.You need to know where the money is invested and what type of policy you have. Many maturing endowments have actually made money believe it or not...if your're going to cash in then try and get a value from a traded policy company which may give a higher value than the insurance company.