Should I surrender or try to sell endowments

Angela_Aston

After split from husband, agreed I can have house and endowments, but have to take out new mortgage. Endowments - naff obviously, so going to take out repayment mortgage. Need the money I pay into the endowments to cover my outgoings. So to the point... I have made the decision to cash in the endowments. Should I surrender them to the lender or should I try to sell them to a third party???
One with RSA to cover 23750 - surrender value 7637 after 16 yrs, the other with Standard Life, was to cover £10K, surrender value 3368 after 12 yrs.

I need the ready cash or would keep them... so anyone out there can help me determine which is best???

both are with profit policies

thanks anyone...

dunstonh

The one with RSA will be totally naff.

The Standard Life endowment is due a windfall in 2006.    Estimates put the windfall at £1100.  Standard Life endowments are not that bad either.   Providing the endowment was set up with a reasonable target growth rate of 4-6%pa, it may come out alright.  Especially if you include the payout in the calculation.

Its wrong to assume an endowment is naff just because its called endowment.   There are some very good ones out there.   Investments in TEP (traded endowment polices) are doing very nicely and they only pick the better ones.

I doubt anyone will touch the RSA endowment.    The Standard Life endowment will be ok to trade but you would be daft to surrender it at this time.

Angela_Aston

cheers - that does help!
The RSA is supposedly the which was to pay the most of the mortgage off, so will look at surrendering, do you think its just best to surrender or try and find a buyer - or will no - one want to touch it?
The Standard life was only to reach 10K and only £20 a month, so seems worth trying to keep paying it out for now....