Cashing in my endownment

xsorrelx

Hi all

we are considering cashing in our with profits endownment held with friends provident for the last 12 years. we have 8 years left for it to run. we took it out initially as a mortgage on our 1st house, the initial loan was £57k and we were sold the endownment estimated to make us £65k+. we have tried the missold route to no avail. its now on track to reach approx £35k+ - dire!! At the moment it is valued at approximately £19k. we are considering converting our garage and would use the money for this, i figure its better than sitting in there. if we didn't use all the cash then we would invest in the best savings bond we can find.

my question is what is the best way to cash in an endownment for the best return? do any of you have experience of this, and could you recommend some good companies we can contact for cash in quotes?

thanks! :j

EdInvestor

You can try to get quotes here, but the market has dwindled recently and you may find nobody is interested.

https://www.apmm.org

Post some info on the policy

Guaranteed sum assured
Declared bonuses
Surrender value
Monthly premium
Maturity date
Maturity forecasts

What interest rate would you expect to get on the savings bond net of tax?

If you had to borrow the money to convert the garage, what interest rate would you expect to pay?