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Advice Please
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RossesRover
Posts: 1 Newbie
I just received £1280 from Abbey for a missold endowment :T , I now want to switch to a repayment the endowment is worth about £9000 after six years, should I cash it in and use the cash to pay off a large chunk of my £69,000 mortgages ?
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RossesRover wrote:I just received £1280 from Abbey for a missold endowment :T , I now want to switch to a repayment the endowment is worth about £9000 after six years, should I cash it in and use the cash to pay off a large chunk of my £69,000 mortgages ?
We cant compare an endowment we know nothing about against a repayment mortgage. However, if the redress was only £1280 six years in on a £69k mortgage, then it suggests that the endowment is probably not that bad.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.0
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