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Do I cash in my endowment?

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Comments

  • mummyofonechild
    mummyofonechild Posts: 1,995 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    £1300 is listed as final bonus.
    MEP is between £2915 and £4373
    Mortgage Free as of 31/5/11 :j:j:j:j:j:j:j
  • dunstonh
    dunstonh Posts: 120,039 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    As its standard life, there may well be a mortgage promise value (MEP). Can you tell us that as well?

    If you surrender, you do not get a penny of that MEP. With SL endowment, that MEP is vital to know as you could be throwing away tens of thousands of pounds without realising it. Or you may have one with a very little MEP which is not worth worrying about.

    edit: posts above added as I was posting mine.
    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.
  • mummyofonechild
    mummyofonechild Posts: 1,995 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Hi

    MEP is between £2915 and £4373
    Mortgage Free as of 31/5/11 :j:j:j:j:j:j:j
  • mummyofonechild
    mummyofonechild Posts: 1,995 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Any ideas, will be contacting Standard Life this week?
    Mortgage Free as of 31/5/11 :j:j:j:j:j:j:j
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    mummyofonechild wrote: »
    Any ideas, will be contacting Standard Life this week?

    Don't forget to ask for the maturity forecasts and update the surrender value..
    Trying to keep it simple...;)
This discussion has been closed.
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