standard life endowment

hum240

hi all
first time poster i have a standard life endowment and thinking of cashing in and pay the £42 to my mortgagetop up between £880 and £1 320
homeplan 9/1/1995 9/1/2020
sum assured £28000
£42.12 per month
unit value £7 242.12
final bonus £1 246.50
total £8 498.62

£15 700 £18 400 £21 600 total still to pay £5 644.08

ltop up £880 up to £1 320

EdInvestor

hum240 wrote: »

total £8 498.62

Is this the surrender value and if so how old is it? Ditto for forecasts.If not recent please update.

Could you please also post the current value (on last bonus statement) and the interest rate you pay on your mortgage.

hum240

this is the most up to date i got from them yesterday

this is the surrender value

hum240

i am on a tracker with the nationwide 4.78% from nov

my current deal runs out aug 2009

i am on part repayment / interest only

£39 000 mortgage £18 000 on interest only

i would like full repayment if the endowment is not worth keeping

i am not worried about the life cover

EdInvestor

hum240 wrote: »

£15 700 £18 400 £21 600

if you cashed in the policy and used the lump sum to reduce the loan, also increasing the payments by the amount of the endowment premium, at maturity you would end up with 23,006, which beats all their forecasts at no risk and thus looks like the way to go.

It may be cheaper to use the money (and any other "top-up" money) to overpay the I/O part of the mortgage.

hum240

go a meeting next week with the nationwide

don"t know if i can pay the money b 4 my deal runs out