Standard Life publish 'proposal for members' - inc. FIXED shares estimate £444 - £536

Beverley

full-time-mum wrote:

Does anyone know whether these windfalls are taxed?

Endowment is in joint names with OH first. I don't pay tax so we could swap names so I get windfall - Ages ago SL said this could happen if we sent letter and asked but were tight lipped on tax implications "details have yet to be decided" was all I could get.

Can't imagine that what we get will in anyway compensate for short fall currently estimated (and still rising) on our statements.

Will any windfall now affect the value of compensation on our mis-selling claim which is currently in the (large) backlog awaiting the ombudsmans adjudication?

Actually full-time-mum, you had to swap names before the October cut off date.

I've found this out to my cost as the first-named on my policy was ex hubby - he signed the papers for it to be reassigned to me alone last December - but, according to the help desk, he will be the one to get the windfall and the vote is also his.

I've remortgaged (now have a repayment mortgage) but was hoping for a reasonable lump sum in 2012 when the policy is due up. Now wondering if it'll worth anything at all and whether to just cash it in. I've been paying it for the last 8 years since we split up and it'd be nice to think I''d at least get my payments back.

Beverley

ReportInvestor

Poppy9 wrote:

So how many share will we get (that's the we as in my OH has to share his with me:rolleyes: ).....Endowment policy started in Oct 1985 @ £22.42 per month (£17k target)

I think £1,585 is possible for the endowment.

I haven't a clue what they might add for the £50 pension .

If you had your name first on the endowment and his on the pension, then there might be a chance of an extra £490 basic windfall.

Otherwise, not a lot on top of £1,585.

taylornj

Today received my voting form and share allocation statement. Shares come no where near the shortfall I will have on the Mortgage Endowment in my last statement.

A slight headache after trying to read through the 100+ page accompanying book. If you have a Mortgage Endowment Policy you have to look at Part 5 - Mortgage Endowment Promise (MEP), seems you can have either Top Up MEP Policy, or a Non Top Up MEP Policy. Really not sure which I have, pity they didn't include a plain simple indication as to which I have along with the share allocation.

Poppy9

ReportInvestor wrote:

I think £1,585 is possible for the endowment.

I haven't a clue what they might add for the £50 pension .

If you had your name first on the endowment and his on the pension, then there might be a chance of an extra £490 basic windfall.

Otherwise, not a lot on top of £1,585.

Thanks for info. Sorry I didn't make clear that he's still paying the £50 per month pension just never increased the amount per month.

ReportInvestor

Book the 2006 holiday to the Caribbean NOW .

Alternatively, make sure he gives you half .

BellaBargains

I'm not sure what my endowment is worth now (not much I dare say) as I don't have it attached to a mortgage anymore but I took it out in the summer of 92 paying £28.22 per month with a target of £22800 - my share allocation is 253 which seems pretty bleeding stingy to me!

Think I might cash the darned thing in after this!

ReportInvestor

Hi Bella,

I've included your details in this MSE table

But as you can see, something doesn't add up, and you should be entitled to more shares on the basis of the information you have given.

Could you maybe double check?

rolo1952

I have an endowment started in 1984 for 26000 due to mature in 2009
I Pay around £32 per month
Share allocation 942
Looks like I will receive between approx £1800- £2600
This also comes nowhere near the shortfall I have been now told to expect.

full-time-mum

Beverley wrote:

Actually full-time-mum, you had to swap names before the October cut off date.

Good of them to mention that when I asked... :mad:

Beverley wrote:

I've remortgaged (now have a repayment mortgage) but was hoping for a reasonable lump sum in 2012 when the policy is due up. Now wondering if it'll worth anything at all and whether to just cash it in. I've been paying it for the last 8 years since we split up and it'd be nice to think I''d at least get my payments back.

If its not going to pay your mortgage, then it has just become a savings investment. I guess you need to look at what you've paid in, what you'll get out and whether it is still giving you a better return than whatever you would have done - building society etc.

Iona_Penny

1 linked to mortgage endowment for 18 years started July 1988 premiums £55.40 and 1 started August 1991 premiums £20.60 for 15 years ( so both policies out this summer) total number of shares allocated 1011.

On another note we complained about mis-selling of first policy to the Halifax who sold the SL policy (in fact would not advance money for extension to previous house unless we switched from our then repayment mortgage!!) but they said proposal was before April 1988 but now seen date of signing was July.. anyone (dh or RE ?!) any thoughts? Too late now to challenge their decision but just wonder.