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Bad situation - Divorce. Help appreciated.
Comments
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Definitely ring them and find out what it is worth.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Is there more than one endowment? I'm confused, you talk about an amount of £24k and £21k
"You've been reading SOS when it's just your clock reading 5:05 "0 -
sammyjammy wrote: »Is there more than one endowment? I'm confused, you talk about an amount of £24k and £21k
Hi there,
Well when I phoned A&L they said that there was £21k owed but that was an endownment. But the house was bought for £24k (1987).
I don't think there is another endownment, as I didn't stop any other payments, and nothing else comes out my account - so thats good enough to assume there is no other endownment, as we are not paying into anything else.0 -
ggecko I understand you didn't cash in the endowment but you did stop paying it? You will therefore have something in that pot that you had been paying for 15 years so dig out your paperwork and find out how much that is worth first.0
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Just got off the phone and was told in 2012, i WILL be recieving £15k 'lock in value' which I am so pleased and relieved about. Can get the other 5k without being so stressed
Thanks alot guys.
So the 'lock in' value, on date of maturity I am guaranteed as he said on the phone right?
Cheers0 -
I'd get them to send you a letter confirming everything clearly in writing, so it's in black and whie and there's no misunderstandings.Reason for edit? Can spell, can't type!0
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ggecko, that's great, what a weight off your mind, but yes get something in writing.0
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Have you not been receiving yearly updates on the status of your endowment?
We were/are in the same boat. Went from a repayment to endowment in 86 when we moved house. Great projections which were not worth the paper they were printed on. No comeback either.
7 years ago we went back to repayment when they wrote the dreaded red traffic light letter. No big deal as mortgage relatively small We have carried on the endowment which pays out late 2011. But house will be paid off before then, so nice little holiday there. (maturity value guaranteed at £15k)
Just saying that we receive yearly letters telling us of maturity values etc
You should definately get it in writing. Verbal does not mean a thing. It would be a horrendous shock if it turned out you had mis-heard
good luck0 -
They are sending projections in the post this week 0
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