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Scottish Widows Surrender?
Woolley4
Posts: 2 Newbie
I'm a bit unsure what to do with my House Purchase Savings Plan with Scottish Widows. The start date was Aug 99 and i've been paying in £74.38 a month. As far i understand i cannot sell this fund as is it a unitised with profit and so i can only surrender or keep on ploughing in the money.
Target amount is £38,531.
Latest projected shortfall with 4% growth is £25,800.
Surrender price is £5657
If surrendered now i would lose about £600, but i could pay cash for a new roof without forking out VAT and have a little left over for home improvements.
By the way i've gone repayment with the mortgage so it's just a case with whats the best move for this remaining policy?
Any insight would be appreciated.
Target amount is £38,531.
Latest projected shortfall with 4% growth is £25,800.
Surrender price is £5657
If surrendered now i would lose about £600, but i could pay cash for a new roof without forking out VAT and have a little left over for home improvements.
By the way i've gone repayment with the mortgage so it's just a case with whats the best move for this remaining policy?
Any insight would be appreciated.
0
Comments
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Can you post some maturity projections.Trying to keep it simple...
0 -
My Endowment Plan Update As At 4th July
4% each yr 5% each year 6% each yr
Projected
final amount £25,800 £29,500 £33,800
Potential
shortfall £12,731 £9,031 £4,7310
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