Endownmnet Maturing - What Next?

hall2056

Hi, my endownment will shortly be maturing. What happens on the date of maturity, does the endownment provider send me a cheque or is it paid direct to my mortgage lender?

I am asking the question, as I will have a shortfall of approx. £2,500, which I have been aware of for some time, and have put aside in a high interest account.

Would be grateful for explanation on what happens?

Thanks

hall2056

dunstonh

If its assigned to the lender, the funds go to the lender. If its not assigned, then they come to you. It will be by cheque or bank transfer depending on what you put down on the instruction you get a few months before.