mortgage help

spasguidedogs

Hi
I am after some advice on what to do now, my 4 endowment policies have left me with a large short fall to pay off mortgage No1.

Do I surrender these policies now and pay off a lump sum from the capital or let them mature in 2011. I can afford to over pay the mortgage by £600 per month.
Any advice appreciated.

Mortgage 1
Balance: £47,305.51
Interest only: @ 1.19% Tracker (4 endowment policies listed below)
Monthly payment: £46.91
Term remaining: 2years 11 months (Aug 2012)

Mortgage 2
Balance: £45,019.45
Repayment:@ 5.69% fixed till Jun 2011
Early repayment fee: £900
Monthly payment: £362.62
Term remaining: 14 years 11 months (Aug 2023)


Provider: NORWICH UNION
Start: April 1986
Target: £17,575
Guaranteed sum assured: £6,046
Declared bonuses: £4,819.63
Current value: £10,865.63
Surrender value: ££9,834.13
Monthly premiums: £22.97
Maturity date: April 2011
Maturity Forecasts: 4% 5% 6%
£11,200 £11,500 £11,800
Mortgage Promise: £1,675 (not guaranteed)


Provider: LEGAL & GENERAL
Start: July 1991
Target: £16,000
Guaranteed sum assured:
Declared bonuses:
Current value: £10,234.59
Surrender value: £10,148
Monthly premiums: £33.39
Maturity date: July 2011
Maturity Forecasts: 4% 6% 8%
£10,600 £11,000 £11,400



Provider: NORWICH UNION
Start: Sept 1988
Target: £3,000
Guaranteed sum assured: £1,131
Declared bonuses: £685.01
Current value: £1,816.01
Surrender value: £1,641.67
Monthly premiums: £5.67
Maturity date: Sept 2011
Maturity Forecasts: 4% 5% 6%
£1,910 £1,960 £2,000
Mortgage Promise: £340 (not guaranteed)


Provider: NORWICH UNION
Start: Nov 1987
Target: £13,425
Guaranteed sum assured: £4,833
Declared bonuses: £3,377.70
Current value: £8,210.70
Surrender value: £7,243.10
Monthly premiums: £19.59
Maturity date: Nov 2011
Maturity Forecasts: 4% 5% 6%
£10,100 £10,400 £10,800
Mortgage Promise: £1,425 (not guaranteed)