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To cash an endowment and pay off mortgage - or not?
el_tel_6
Posts: 2 Newbie
Hi new to this - but need to know I'm not wide off the mark!
My FP endowment is now red alert, supposed to get to 70k but projected to be 44k at 4% estimate.
My FR mortgage to sept 2011 is at 5.29%
If I pay the surrender value off the mortgage (£17k) and overpay the £115 pm also off the interest only mortgage (plus a bit more while I can) its got to be a better bet than hoping the muppets at FP will do a better job than they have? even if I need life assurance to cover the same value, quoted at £10 pm
I'm outside the appeal time for misselling, after broker rejected the claim, but will have a go anyway as its now changed to Red alert.
Have I missed something?
My FP endowment is now red alert, supposed to get to 70k but projected to be 44k at 4% estimate.
My FR mortgage to sept 2011 is at 5.29%
If I pay the surrender value off the mortgage (£17k) and overpay the £115 pm also off the interest only mortgage (plus a bit more while I can) its got to be a better bet than hoping the muppets at FP will do a better job than they have? even if I need life assurance to cover the same value, quoted at £10 pm
I'm outside the appeal time for misselling, after broker rejected the claim, but will have a go anyway as its now changed to Red alert.
Have I missed something?
0
Comments
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any advice for a newbie ?
0 -
Looks like a good strategy to me.
Trying to keep it simple...
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