Friends Provident 1986 endowment

Kilkee_Rover

Advice on my endowment PLEASE- unsure whether we should stick it out to the end or cash it in. We changed to a repayment mortgage many moons ago. Our outstanding mortgage is £42,000 on a tracker at 0.34% above base. We don't need the insurance and we can manage our mortgage comfortably. We are in fortunate position of excellent job security so no worries there either. What do the experts think??


Guaranteed sum assured £54,874
Declared bonuses £19,684
Surrender value £42,152
Monthly premium £157
maturity date 08/04/2013
maturity forecasts 4% 57,700, 5.5% 61,000, 8% 66,700
Interest rate payable on mortgage 1.04%

maninthestreet

It seems to have a surrender value slightly in excess of your outstanding mortgage. Assuming there is no MVR to take into account, you can pay off your mortgage now by surrendering this endowment policy.