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Endowment Maturing this Year
WYSAL1
Posts: 2 Newbie
One of my Endowment policies is maturing this year although my Mortgage doesn't finish till 2016. The endowment policy should have been paying out £32K but will only pay out around £22K ( I hope). The endowmant part of my Mortgage is £45K and I have 2 other endowments which wont cover the cost either. I would like to invest the money somwhere so that when my morgage has to be paid off I will have made up the shortfall slightly. Has anyone any suggestions what I should do with it. I did think about property ...
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Comments
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Just a thought, but couldn't you use the cash from the endowment to pay off part of your mortgage?0
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I would pay it off the mortgage, you would pay far less interest doing it that way than the interest you would earn in investing it.
Work it out for yourself, you;d be quids in.
If you cant work it out, put the details on here and Im sure someone will be kind and clever enough to do it for you.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
I don't think it's as simple as that - I owe £65k in total, £45k endowment, £20k repayment. I cant pay any off without penalties till 2014. Thats why I though I could do something with the £22k maturing this year to help with the shortfall0
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Are you sure you can't pay any of it off at all? Most allow some form of overpayment although it might be only 10%.0
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