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Endowment Policy Advice

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Wobblybm
Wobblybm Posts: 4 Newbie
in Mortgages & endowments
I have a With Profits Endowment Policy with Standard Life, which has 2 years left to run of its 25 year period. The policy was supposed to cover the cost of the mortgage at the time (£33000) and has cost me approx £45 a month for the last 23 years. The policy is no longer linked to my current mortgage but bearing in mind how dismally its doing, is it best to cash it in now or keep with it for the final 2 years? Any advice welcome.

Wobblybm

Comments

  • dunstonh
    dunstonh Posts: 119,624 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Any advice welcome.

    There is no advice given on the forums on regulated products. Only discussion.
    is it best to cash it in now or keep with it for the final 2 years?
    What is the surrender penalty?
    How much have you left to pay?
    How much is the mortgage promise value? (often given as a value range)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    Post some more info

    Guaranteed sum assured
    Declared bponuses
    Surrender value
    Monthly premium
    Maturity date
    Maturity forecasts
    Interest rate payable on mortgage
    Trying to keep it simple...;)
This discussion has been closed.
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