Best companies that buy endowment policies?

gmartin

Good morning,

I am new to this site so please excuse me if this has already been asked but:

I have 2 endowment policies with Aviva (formerly Norwich Union) which have9 years still to go before maturity.
Last week I received Red Alert notices and the illustrations make it clear (to me anyway) that it's not worth paying anymore money into these policies. I no longer need the policies to repay a mortgage so I would like to know who to contact to see if I can sell the policies. Who is likely to offer the best price?
Many thanks for any guidance

dunstonh

Last week I received Red Alert notices and the illustrations make it clear (to me anyway) that it's not worth paying anymore money into these policies.

If you sell, you dont get the mortgage promise value and the firm buying them wont offer you any more for them. Often with Aviva ones, the value is in the mortgage promise value and that can be the difference between getting rid of or keeping.

gmartin

dunstonh wrote: »

If you sell, you dont get the mortgage promise value and the firm buying them wont offer you any more for them. Often with Aviva ones, the value is in the mortgage promise value and that can be the difference between getting rid of or keeping.

I don't remember seeing a mortgage promise value on the letter so i'll need to double check - thanks

dunstonh

gmartin wrote: »

I don't remember seeing a mortgage promise value on the letter so i'll need to double check - thanks

Aviva dont tell you about it. It last appeared on the 2001 and 2004 statements but they will tell you what you have if you ask the question. Be wary though, not all of their telephone staff know about the MEP. If you get one that says you dont have any then ask for confirmation in writing. I have seen MEPs with over £10,000.