what to do

amanda47

Hi my first time posting please be gentle with me lol. today I,ve been looking into my Endowment :rolleyes: phoned them to ask what the surrender value would be ? mmmmmm 15,000 owe Mortgage of 34,000, looking at what would be the best todo, think I,ve read some where on this site that I could sell my Endowment and maybe have a bit more money for it have I got this right ? would it be best to cash it in. I have three yrs left on endowment think the interest is 3.25%, would it be better in a high interest account till my Mortgage ends in 2014 hopefully will have a bit more interest.
then I could start putting money in this account to pay off the shortfall on my mortgage five yrs left before Mortgage free:rolleyes:. thank you.

sorry if this is in wrong place.

*David*

Firstly, have you investigated complaining about the endowment if you we mis-sold it. When I had my endowment many years ago - late 80's, there was never any mention of endowments under performing - which most have. I'm sure there will be advice n this site with regard to mis-sold endowments.

Other than that, if you are so close to the end of the endowment there are usually large bonus / loyalty payments if you reach the end of the endowment - have you looked in to the value of these.

I think you should look for independant advice before selling on the endowment at this stage.

amanda47

First thank you.
yes David I did complaining about miss sold Endowments we had ours in 1986 ? DH was self employed at the time, I can't remember what was said on Letter we received back from them, but was told there was no claim advice at the time was the right advice for us.


the £15.000 I was quoted on the phone was with bonuses, don't now what the end Bonus will be.

I was thinking because they are doing so bad at the moment I would get more in interest in savings. thanks .